NEW YORK (TheStreet) -- Shares of Baxalta (BXLT) stock are rising 0.87% to $40.81 at the start of trading on Friday as Shire (SHPG) is preparing to announce its acquisition of the company as soon as Monday, according to sources cited by Reuters.

The agreement between the two drug makers would value Baxalta at about $48 per share with a cash component of nearly $20 per share, Reuters added.

The roughly $32 billion merge would be one of the biggest in the healthcare sector in the new year.

Both drug makers are confident that previous tax concerns about Baxalta's spinoff from health care company Baxter International (BAX) would not jeopardize the deal, but are waiting for a formal legal opinion before signing the agreement, Reuters noted.

Bannockburn, IL-based Baxalta develops, manufactures and markets treatments for bleeding disorders, immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute medical conditions.

Shares of Shire are gaining 2.35% to $191.12 on Friday morning.

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