Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: ValuEngine, Inc.
$49.00
Provider: ValuEngine, Inc.
$25.00
Provider: S&P Capital IQ – STARS Reports
$115.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Shire Plc confirms rejection of AbbVie proposal


Friday, 20 Jun 2014 03:42am EDT 

Shire Plc:Confirms that on May 30 Shire received an unsolicited and highly conditional proposal from AbbVie (the Proposal) regarding possible cash and share offer for Shire.This Proposal has been rejected.Proposal comprised 20.44 pounds in cash and 0.7988 AbbVie shares per Shire share.Proposal involved a new US listed holding company with a UK tax domicile.Based on AbbVie's 30 day volume weighted average share price of US$54.10, proposal represents value of 46.11 pounds per Shire share (comprising 44 pct cash and 56 pct AbbVie shares).Proposal represents premium of 23 pct to Shire's share price of 37.38 pounds on June 19 and premium of 30 pct to Shire's 30 day volume weighted average share price of 35.43 pounds.Proposal follows two earlier proposals, which were also rejected. At AbbVie's request, Shire met with AbbVie to enable AbbVie to explain key aspects of proposal.Following this meeting, the Board of Shire decided unanimously to reject proposal on the basis that it fundamentally undervalued the company and its prospects. 

Company Quote

54.97
-0.32 -0.58%
20 Aug 2014