Shire says deal for Baxalta still on

Shire Plc says its acquisition of Baxalta is on track to be completed this summer despite new U.S. rules designed to discourage mergers between U.S. and foreign companies aimed as reducing corporate taxes.
“The combination of Shire and Baxalta is based on a strong strategic rationale to create the leading global biotechnology company focused on rare diseases,” Shire said in a news release Wednesday.
“The company currently expects to complete its proposed combination by mid-2016 as previously announced.”
Shire and Baxalta announced a $32 billion cash-and-stock deal in January. Baxalta shareholders will wind up owning about 34 percent of the combined company.
Baxalta was

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