Shire Rejects a $46.5 Billion AbbVie (NYSE:ABBV) Takeover Offer

Technology Stocks News 3

Goldman Sachs has been hired by Shire as the London-listed drug maker confronts a takeover offer, as explained in the Financial Times morning briefing. Shire turned down a $46 billion bid from Chicago-based AbbVie last week.

According to a report from the New-York Times, people briefed on the matter said AbbVie was likely to come back with a higher offer. Allergan, which is fending off a takeover attempt from Valeant Pharmaceuticals, has also been rumored as a bidder for Shire. The takeover battle is not over yet.

Shire Rejects $46.5 Billion AbbVie Offer

AbbVie is considering raising its takeover offer for drugmaker Shire a fourth time, and presenting its case to Shire’s shareholders after the company rejected a $46.5 billion bid recently, said two people with knowledge of the matter.

Bloomberg’s Betty Liu reports on In The Loop. A complete video report about the AbbVie vs Shire deal from Bloomberg financial journalists.

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