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AbbVie Inc raises bid for Shire Plc


Tuesday, 8 Jul 2014 07:50am EDT 

AbbVie Inc:Says outline its revised proposal of 22.44 pounds in cash and 0.8568 ordinary shares of New AbbVie for each Shire share.Says fourth proposal represents an indicative value of 51.151 pounds as of July 7.Indicative value of the fourth proposal represents increase of about 11 percent and about a 3 bln pounds increase to indicative offer value of 46.26 Pounds per share.Says increase of 2 pound and about 10 pct in cash per Shire share.Says premium of 75 pct to Shire's closing share price of 29.25 pound on April 17 and about 13 bln pounds of incremental aggregate value for Shire's shareholders.Says premium of 48 pct to Shire's closing share price of 34.67 pounds on May 2 and about 10 bln pounds of incremental aggregate value for Shire's shareholders.Says In addition, this revised indicative proposal increases the ownership that will be held by Shire shareholders to about 24 pct of new holding company of the combined group.