July 11 Shire Plc on Friday confirmed it
has held a meeting with U.S. drugmaker AbbVie Inc to
discuss AbbVie's takeover bid for the Dublin-based maker of
drugs for rare diseases.
Shire, in a release, did not provide any additional
information about the meeting, saying it would provide a further
update "when appropriate." It added there can be no certainty
that any firm offer will be made nor as to the terms of any such
AbbVie, which is based in suburban Chicago and makes
top-selling arthritis drug Humira and other medicines, has
offered $51 billion for Shire, hoping the deal would cut its tax
bill and diversify its product line.
But Shire has rejected three previous proposals from AbbVie,
saying they had fundamentally undervalued the company.
Some top investors in Shire have been urging it to engage
with AbbVie, after a prolonged silence from the London-listed
(Reporting by Ransdell Pierson; Editing by Jonathan Oatis)