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AbbVie presses Shire shareholders for takeover

Jul. 03, 2014 5:27 AM ETAbbVie Inc. (ABBV) StockSHPG, SHPGF, ABBVBy: Yoel Minkoff, SA News Editor7 Comments
  • AbbVie (NYSE:ABBV) CEO Richard Gonzalez has been holding discreet meetings with Shire (NASDAQ:SHPG) shareholders in London this week, in another pursuit for a $46B takeover, Reuters reports.
  • AbbVie is looking to buy Shire mainly as a tax inversion, but to also diversify its drug portfolio.
  • The company made no mention of increasing its current bid, but under British takeover rules, it has until July 18 to make another offer or walk away.
  • SHPG -0.5% premarket

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