Shire's $5.9 Billion Acquisition of Dyax Helps Eliminate a Rival

Updated on
  • Dyax investors to get $646 million more if DX-2930 is approved
  • Target company's DX-2930 may generate $2 billion in sales

Shire Plc, whose $30 billion bid to acquire Baxalta Inc. was rebuffed, is buying biotechnology company Dyax Corp. for at least $5.9 billion in cash to gain a promising treatment for a rare genetic disorder and eliminate a key competitor. Shares of Dyax soared.

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