British drug company Shire is urging a buyout from US competition AbbVie following the firm's most recent bid of £53.20 per share the BBC has reported.
Shire, primarily known as a manufacturer of pharmaceuticals to treat rare diseases, is advising its shareholders to accept the offer. If the deal is successful it could substantially reduce Abbvie’s tax bill. The US firm started bidding for the Berkshire-based manufacturer in May, but as of last Tuesday raised it’s offer to £51.15 per share.…
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