Deals
AbbVie Moves Closer to Shire Takeover With $53.7 Billion Bid
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AbbVie Inc. moved a step closer to buying Shire Plc after the Dublin-based company said it is willing to back a fifth offer of 31.4 billion pounds ($53.7 billion) just four days before the deadline to strike a deal.
Shire would support a formal bid of 53.20 pounds a share, or 9.2 percent more than Shire’s closing share price on July 11, Shire said in a statement today. That price would make the acquisition the biggest in the industry this year. AbbVie made four previous offers for as much as 30.1 billion pounds.