Shire takeover bid for Baxalta hinges on tax issues, FT says
The success of Shire's bid for Baxalta hinges on whether it can avoid a stiff tax bill if a large part of the transaction takes the form of cash, instead of shares, the Financial Times reported, citing people close to the talks.
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UK-listed Shire is seeking assurances that paying part in cash for the US medical group would not run afoul of US laws forbidding the use of 'spin-offs' to allow shareholders to receive cash tax-free.
Baxalta was spun-off last year from Baxter.