Shire shareholders vote to approve New River tender offer, increase borrowings

By Lisa Kerner

Charlotte, N.C., April 16 - Shire plc shareholders approved the proposed $64.00-per-share tender offer by a Shire subsidiary for New River Pharmaceuticals Inc. at an extraordinary general meeting on April 16, according to a company news release.

Shareholders also approved an increase in the total borrowings of the Shire group to $4 billion.

The tender offer expires April 17, and the $2.6 billion transaction is slated to close in April.

Previously, Shire said it planned to fund the transaction through $2.3 billion in new debt financing and an accelerated private placement worth about $800 million.

Shire is a specialty pharmaceutical company located in Basingstoke, England.

New River is a Radford, Va.-based pharmaceutical company.

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