AbbVie Makes Fourth Offer of $51.5B for Shire

Jul 08, 2014

Bloomberg

According to a Bloomberg article, AbbVie Inc. made a fourth offer to buy Shire Plc, raising the price to about $51.5 billion in an effort to force negotiations. Shire said its board would meet to discuss the bid.

AbbVie increased its offer by about 11 percent to 51.15 pounds a share in cash and stock after meeting with Shire’s top shareholders, the drugmaker said. Shire said in a statement that it wasn’t given AbbVie’s latest proposal ahead of time, and the company advised investors to take no action. Read the full story