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Shire to Acquire Dyax for $5.9 Billion to Bolster Rare Disease Drug Business

Irish drug maker Shire (SHPG - Get Report) is acquiring the biotech firm Dyax (DYAX - Get Report) for $5.9 billion to expand its portfolio of drugs treating a rare swelling disorder known as hereditary angioedema, the companies said Monday.

The deal values Dyax at $37.30 per share, or a 35% premium over the $27.53 closing price on Friday.

Dyax shareholders will also receive a non-tradable contingent value right that will pay another $4 per share if DX-2930, a late-stage drug candidate for the treatment of hereditary angioedema, secures regulatory approval. The total value of the DX-2930 CVR is $646 million.

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