The shareholders of Shire plc (LSE:SHP) authorized a share repurchase program at its Annual General Meeting on April 30, 2013. Under the program, the company will repurchase up to 55,741,587 ordinary shares, representing 10% of the issued share capital. The minimum price, which may be paid for an ordinary share is 5 pence. The maximum price, which may be paid for an ordinary share shall be the higher of an amount equal to 105% of the average of the middle market quotations ... for the company’s ordinary shares as taken from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such shares are contracted to be purchased; and the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange Daily Official List at the time the purchase is carried out. The share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting in 2014 or on July 29, 2014. As of March 11, 2013, the company had 557,415,871 ordinary shares in issue.
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Shire plc (LSE:SHP) agreed to acquire SARcode Bioscience, Inc. from Clarus Lifesciences I, L.P., a fund of Clarus Ventures, LLC, Sofinnova Ventures, Inc. and other investors for approximately $160 million on March 25, 2013. SARcode shareholders will also be eligible to receive additional undisclosed payments upon achievement of certain clinical, regulatory, and/or commercial milestones. The transaction is subject to regulatory approval in the United States, and other ... customary closing conditions and is expected to close in the second quarter. Barclays acted as financial advisor to Shire. J.P. Morgan Securities LLC acted as financial advisor to SARCode and Wilson Sonsini Goodrich & Roasati acted as legal advisor to Sarcode. William J. Chudd, Brian J. Snyder, Sabrina L. Ursaner, Ravi P. Ramchandani, Kyoko Takahashi Lin, Andrew Blau, Ferrell Maguire, Pritesh P. Shah, Jansen A. S. Thurmer and Michael Mollerus of Davis Polk & Wardwell London LLP acted as legal advisors for Shire plc.
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Shire plc (LSE:SHP) signed an agreement to acquire Lotus Tissue Repair, Inc. from Third Rock Ventures, LLC and other investors on January 8, 2013. Shire will purchase Lotus Tissue for an upfront payment and certain contingent payments based on the achievement of certain safety and development milestones. The transaction is subject to customary government approvals. William J. Chudd, Brian Wolfe, Ashley M. Bryant, Kyoko Takahashi Lin, Andrew Blau, Jessica Lutrin, Frank ... J. Azzopardi, David R. Bauer, Michael Mollerus and Arie Rubenstein of Davis Polk & Wardwell LLP acted as legal advisors for Shire.
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