More on AbbVie's pursuit of Shire


Saying the price is still too low, Shire Plc (SHPG) rejects AbbVie's (ABBV) latest bid of as much as 27.3B pounds ($46.5B). This is the third offer Shire has spurned. The latest offer values Shire at 46.26 pounds, ~12% premium over today's price in London. The proposal includes a new U.S.-listed holding company with a U.K. tax domicile.

SHPG shares are up 11% premarket on moderately high volume.

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Comments (3)
  • zack54
    , contributor
    Comments (142) | Send Message
     
    This is going to happen eventually ...the shire share holders will want to take the premium and also receive shares in a outstandanding long term company. Shire's management and board is not looking out for their shareholders but rather themselves.
    20 Jun 2014, 07:45 AM Reply Like
  • pharmaguy
    , contributor
    Comments (174) | Send Message
     
    I would disagree with you on this one. This bid seems significantly worse then Pfizers attempt to take ove Astra Zenicas when you compare Shires projected growth vs. Astras.
    I think it is a little too early to declare AbbVie an excellent long term company. I would prefer to wait and see how it handles the loss of Humira's patent first.
    20 Jun 2014, 08:12 AM Reply Like
  • sunwindgeo
    , contributor
    Comments (856) | Send Message
     
    The more they raise the price, the better the Shire stock does, and so on. How high will it go?

     

    This is Wall St. and foreign markets originating at its worst.
    20 Jun 2014, 08:20 AM Reply Like
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