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AbbVie Inc and Shire Plc reach agreement on terms of recommended combination


Friday, 18 Jul 2014 05:00am EDT 

AbbVie Inc and Shire Plc:Says they have reached agreement on the terms of a recommended combination of Shire with AbbVie.Under the terms of the Merger, Shire shareholders will be entitled to receive: for each Shire Share: 24.44 Pounds in cash and 0.8960 New AbbVie Shares.Immediately following the Transaction, Shire shareholders are expected to hold New AbbVie Shares representing about 25 pct of the issued share capital of New AbbVie, thus offering Shire Shareholders the ability to participate in the future prospects of the Combined Group.AbbVie Stockholders are expected to hold New AbbVie Shares representing about 75 pct of the issued share capital of New AbbVie.AbbVie Board has approved the Transaction and intends to recommend that AbbVie Stockholders vote in favour of the adoption of the US Merger Agreement.In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation.Following completion of the transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. 

Company Quote

244.03
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4 May 2015