AbbVie says Shire rejected bid approach

LONDON, June 20 Fri Jun 20, 2014 2:11am EDT

LONDON, June 20 (Reuters) - U.S. drugmaker AbbVie Inc confirmed on Friday it had made a bid approach to Shire , which was rejected by the British group's board. It said talks were no longer ongoing.

AbbVie was responding to a Reuters story on Thursday which revealed the talks.

AbbVie's initial cash and share proposal in early May 2014 represented an indicative offer of 39.50 pounds per share for Shire, and the third and latest cash and share proposal represented an indicative offer of 46.26 pounds, it said. (Reporting by Kate Holton, Editing by Li-mei Hoang)

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