Shire Said to Hold Takeover Talks With AbbVie

Shire Plc has begun negotiating with AbbVie Inc. for a deal to combine the two drugmakers after the U.S. company raised its takeover offer to about $51.5 billion, people with knowledge of the matter said.

AbbVie Chief Executive Officer Richard Gonzalez met in New York with officials from Shire for the discussions, which are at an early stage, the people said, asking not to be identified discussing a private matter. Shire, in a statement responding to Bloomberg News today, said it has held “a meeting with representatives of AbbVie,” without elaborating.