Shire in takeover talks with Baxalta

Shire Plc is in takeover talks with Baxalta Inc. and is making progress toward a deal as the company seeks to expand in rare diseases and discourage larger competitors. Shire is preparing an improved offer that could include a significant cash component and that may come within the next several weeks, the people said, asking not to be identified because the deliberations are private. The previous $30 billion all-stock proposal from Shire Plc was rejected five months ago. Baxalta has been seeking a higher offer that includes cash.