Reuters: AbbVie, Shire narrow in on takeover price

|About: Shire PLC (SHPG)|By:, SA News Editor

In latest round of takeover talks, Shire (SHPG) has informed AbbVie (ABBV) that it values itself at £31B ($53B), Reuters reports. The valuation is close to AbbVie's last bid of ~$51.5B, which it proposed on July 8.

The two companies met Friday to dicuss further details about the possible takeover, and are not far from closing the price gap, but will only have until the end of the week to make a decision.