Liftstream is an executive search recruitment company in the life sciences sector
Fresh from announcing that the company will acquire Foresight BioTherapeutics for $300m (here), Shire stepped up its ambitions to acquire the recently spun-out Baxalta, which went public earlier this summer (here). Shire originally approached the Baxalta Board of Directors earlier in July about the coming together of the the two companies, since when the Baxalta Board have been ignoring Shire’s advances, which has promoted Shire to go public with its $30.6bn all-stock offer. This hostile move is aimed at drawing out Baxalta shareholders in an attempt to push the Board to enter negotiations. Shire held an investor call today where it laid out its rationale for the deal and articulated how it would allow the company to reach a $20bn revenue company by 2020 and become the undisputed rare disease leader (here).