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AbbVie Inc made an indicative approach to Shire Plc with merger proposal


Friday, 20 Jun 2014 02:00am EDT 

Shire Plc:Says AbbVie Inc. notes the recent press speculation and confirms it made an indicative approach to Shire plc (Shire) with merger proposal which was rejected by the Board of Shire.There can be no certainty that any firm offer will be made.Discussions are no longer ongoing.AbbVie's initial cash and share proposal in early May 2014 represented an indicative offer of 39.50 pounds for each Shire share.1.AbbVie's third and latest cash and share proposal when made represented an indicative offer of 46.26 pounds for each Shire share.2.AbbVie reserves the right to introduce other forms of consideration and/or vary the mix of consideration.AbbVie also reserves the right to make an offer at any time for less than the equivalent of 46.26 pounds for each Shire share with the agreement or recommendation of the Shire Board.If a third party announces a firm intention to make an offer for Shire which, as at the date AbbVie announces a firm intention to make an offer for Shire, is valued at a lower price than the equivalent of £46.26 for each Shire share; or.Following the announcement by Shire of a whitewash transaction pursuant to the takeover code. 

Company Quote

214.86
2.44 +1.15%
26 Nov 2014