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Shire Pharmaceuticals is buying Roberts Pharmaceuticals (in-licenses drugs) in a $980mm stock swap that values each Roberts common share at about $30.71, a (pr)26% premium to its 10-day pre-announcement trading average. Post merger, Shire shareholders will hold 56% of the new company, and Roberts' will control the rest. The deal is expected to close in the fourth quarter of 1999.
Payment Includes Stock
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