US drugs giant AbbVie in £27bn approach for Shire: firm

20th June 2014, Comments 0 comments

London-listed Shire Pharmaceuticals has rejected an informal bid from AbbVie worth £27 billion ($46 billion, 33.7 billion euros), the US drugs giant said here on Friday.

AbbVie said in a statement that its third and latest cash-and-shares proposal was pitched at £46.26 for each Shire share, adding it had made an initial approach in early May worth £39.50 per share.

In reaction, Dublin-based Shire's share price surged by almost 15 percent in opening deals on the London stock market.

"AbbVie Inc. notes the recent press speculation and confirms it made an indicative approach to Shire plc with a merger proposal which was rejected by the board of Shire," AbbVie said in a statement to the London Stock Exchange on Friday.

"There can be no certainty that any firm offer will be made. Discussions are no longer ongoing."

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© 2014 AFP

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