Mayer Brown represented Baxalta Incorporated on a public offering of $2.4 billion of common stock of Baxalta held by its former parent, Baxter International Inc. The shares sold in the offering represent a portion of the 19.5 percent stake retained by Baxter when it spun off Baxalta in 2015. Immediately prior to the offering, Baxter exchanged the shares for outstanding indebtedness of Baxter held by the underwriters of the offering, which then resold the shares to the public.

The Chicago-based Mayer Brown team was led by Corporate & Securities partner David Schuette and included Corporate & Securities associates Christine Shepard and Eric Tubbs and Tax Transactions & Consulting partner James Barry.