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Web Date: July 18, 2014

AbbVie And Shire Agree On Merger

Acquisition: Combination of U.S. and Irish firms will create new U.K.-based pharma company
Department: Business
Keywords: pharmaceuticals, mergers, acquisitions, tax inversion

After pursuing the specialty pharmaceutical firm Shire for months, Illinois-based AbbVie has finally convinced it to merge. AbbVie will pay about $54 billion in cash and stock to the Irish firm’s shareholders, who will end up with a 25% ownership stake in the new company.

“We believe that this offer reflects the substantial value that we have already created for Shire’s shareholders and the strength of our future prospects,” said Susan . . .

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Chemical & Engineering News
ISSN 0009-2347
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