Davis Polk Advises Shire on Its $2.325 Billion Concurrent Tender Offers

Davis Polk advised Shire plc on concurrent tender offers by Baxalta Incorporated and Shire Acquisitions Investments Ireland DAC (“SAIIDAC”), both wholly owned subsidiaries of Shire, offering to purchase up to $2.325 billion aggregate principal amount of Baxalta’s outstanding 2.875% senior notes due 2020, 3.600% senior notes due 2022, 4.000% senior notes due 2025 and 5.250% senior notes due 2045 and SAIIDAC’s outstanding 3.200% senior notes due 2026.

Shire is the global biotechnology leader serving patients with rare diseases and specialized conditions. Shire’s diverse portfolio of therapeutic areas includes Immunology, Hematology, Genetic Diseases, Neuroscience, Internal Medicine and Ophthalmics.

The Davis Polk capital markets team included partner John B. Meade and associates Cameron C. Lewis, Leigh Katz and Jae Maeng. Partner Sartaj Gill and associate Nathan P. Huynh provided credit advice. Partner Michael Mollerus and associate Elina Khodorkovsky provided tax advice. All members of the Davis Polk team are based in the New York office.