Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
A $53 Billion Deal Is In The Works That'll Get A US-Based Drug Company Moved To Ireland
http://www.businessinsider.com/r-shire-says-ready-to-recommend-abbvies-53-billion-offer-2014-14
Vitamins made by Shire are displayed at a chemist's in northwest London
LONDON (Reuters) - London-listed drugmaker Shire said on Monday it was ready to recommend a new 31 billion pounds ($53 billion) takeover offer from AbbVie, entering talks after receiving a fifth bid from the U.S. firm.
Chicago-based AbbVie, which wants to buy Shire to cut its tax bill and diversify its product line-up, made the new offer of 53.20 pounds per share on Sunday following a request from the Dublin-based group for an improvement on the previous approach at 51.15 pounds per share.
Reuters had reported on Saturday that Shire, a maker of drugs for rare diseases, had asked AbbVie to sweeten its offer to close to 53 pounds per share, in order for it to recommend the deal.
Shares in the group were up 2.7 percent at 50.00 pounds in early trading on Monday.
Read more: http://www.businessinsider.com/r-shire-says-ready-to-recommend-abbvies-53-billion-offer-2014-14#ixzz37RKvcYBO
