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BRIEF-Shire board in talks with AbbVie on revised proposal
July 14, 2014 / 6:11 AM / 3 years ago

BRIEF-Shire board in talks with AbbVie on revised proposal

July 14 (Reuters) - Shire Plc :

* Shire update re: AbbVie proposal

* Announces that following discussions with AbbVie Inc, Shire requested and has received a further revised proposal from AbbVie on 13 July 2014

* Under revised proposal, Shire shareholders would own approximately 25 per cent of combined new AbbVie.

* Revised proposal comprises £24.44 in cash and 0.8960 shares of new AbbVie per shire share

* Board of Shire has indicated to AbbVie that it would be willing to recommend an offer at level of revised proposal to Shire shareholders subject to satisfactory resolution of other terms of offer

* Board is in detailed discussions with AbbVie in relation to these terms. Source text for Eikon: Further company coverage:

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