Shire PLC (SHPG.OQ) Key Developments |
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Provider : Thomson Reuters Stock Report
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Shire Plc updates on AbbVie proposal

Monday, 14 Jul 2014 02:00am EDT 

Shire Plc:Shire requested and has received a further revised proposal from AbbVie on July 13.Revised Proposal comprises 24.44 pounds in cash and 0.8960 shares of new AbbVie per Shire share.Based on the AbbVie share price on 11 July 2014, AbbVie's Revised Proposal has an indicative value of 53.20 pounds per Shire share(1).Under revised proposal, Shire shareholders would own about 25 pct of the combined new AbbVie.Board of Shire has indicated to AbbVie that it would be willing to recommend an offer at the level of the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of offer.Accordingly, Board is in detailed discussions with AbbVie in relation to these terms.Revised Proposal remains subject to the pre-conditions set by AbbVie on July 8 including due diligence and the recommendation of the Board of Shire.There can be no certainty that any firm offer will be made.This statement is being made by Shire with the agreement of AbbVie. 

Company Quote

-14.26 -7.91%
24 Jun 2016