Big pharma, M&A

Shire moves to acquire NPS Pharma

Posted on 13 January 2015

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Shire and NPS Pharmaceuticals have entered into a merger agreement pursuant to which Shire will acquire all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total consideration of approximately $5.2 billion.

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Shire will accelerate the growth of NPS Pharma's innovative portfolio through its market expertise in gastrointestinal (GI) disorders, core capabilities in rare disease patient management, and global footprint.

The transaction has been approved unanimously by the Boards of Directors of both Shire and NPS Pharma.

Shire has secured an $850 million fully underwritten short-term bank facility, which, in addition to Shire's cash and cash equivalents and its existing $2.1 billion five-year revolving credit facility, is available to finance the transaction and pay related fees and expenses.

Shire plans to refinance the short-term bank facility through new debt issuances in due course.

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