LONDON, June 25 U.S. drugmaker AbbVie
set out the strategic rationale for acquiring Shire on
Wednesday as a battle for control of the London-listed group,
which has spurned its $46 billion bid, entered a new phase.
The group said its cash-and-shares offer represented
"compelling" immediate value with significant future upside
potential from ownership in the enlarged group, adding it
believed the transaction was "highly executable".
The proposed transaction would boost adjusted earnings per
share materially in the first year following completion, growing
to above $1.00 per share by 2020, it said.
(Reporting by Ben Hirschler; editing by Kate Holton)