Baxalta shareholders approve Shire merger

BANNOCKBURN — Baxalta Inc. shareholders Thursday approved the definitive merger agreement with Irish pharmaceutical firm Shire PLC, with approximately 98.9 percent of shares outstanding cast in favor of the proposal.

Baxalta shareholders approved the merger and transaction plan, with approximately 76.9 percent of shares outstanding cast in favor of the proposal, representing approximately 98.9 percent of the votes cast at the meeting.

Baxalta and Shire entered into a definitive merger agreement last January, in which Shire would acquire Baxalta in a stock and cash transaction. Baxalta stockholder approval and Shire shareholder approval are conditions to the merger.

The completion of the transaction remains subject to certain other closing conditions, but the companies expect that this transaction will be completed on or about June 3, 2016.

Baxalta was created in 2015 split with Deerfield-based Baxter International.