AbbVie pitches fifth takeover bid for Shire

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

Shire (SHPG) says it has received a new $53B takeover proposal from AbbVie (ABBV) and it is willing to recommend the new offer to shareholders.

At £53.20 per Shire share, the new bid includes £24.44 in cash and 0.8960 shares of new AbbVie shares.

The updated deal will result in Shire investors owning approximately 25% of the combined company.