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. In a statement, Shire said the new bid comprised 24.44 pounds in cash and 0.8960 shares of new AbbVie shares and would result in Shire investors owning around 25 percent of the combined new firm.
via Health News Headlines - Yahoo News Read More Here..
No comments:
Post a Comment