Biotech Values

[jbog]

Ariad and Baxalta can't agree on price. Talks breakdown per Bloomberg.

ARIAD sinks after Bloomberg says Baxalta buyout talks ended
Shares of ARIAD (ARIA) are dropping after Bloomberg reported that takeover negotiations with Baxalta (BXLT) broke down over price. The companies currently have no plans to resume negotiations, sources told Bloomberg. Last week, people familiar with the matter told the news agency that Baxalta had been discussing an acquisition of ARIAD that would have valued the oncology company focused on leukemia and lung-cancer treatments at close to $2B. Shares of ARIAD are down 20%, or $1.81, to $7.28 in early trading.