Merger Time? Baxalta Shares Rip After Shire Takeover Report

Baxalta Inc

shares are up 3.4 percent on Thursday afternoon on the back of a newly issued Reuters report that calls for a merger with Shire PLC (ADR)

to be announced as soon as Monday. According to the outlet, Shire is preparing to unveil a $32.5 billion offer for Baxalta next week. Baxalta's market cap at last trade was near $27.6 billion -- a 17 percent differential between the reported acquisition price. Reuters added that the deal is comprised of about $48 per share in stock and $20 per share in cash. Sources who disclosed this information asked not to be named, while both companies declined to comment to the outlet.