A PYMNTS Company

UK: Terms of Shire takeover deal revealed

 |  July 21, 2014

US-based pharmaceutical conglomerate AbbVie is set to acquire UK rival Shire in a deal worth $54.5 billion, according to reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The two were first reported to have entered merger discussions in early May of this year, though no terms had been reached. Now, reports say the agreed-upon details represents 53 percent premium over Shire stock prices.

    As part of the takeover, AbbVie agreed to a $1.6 billion breakup fee, say reports. Following the transaction, Shire shareholders will own about one-quarter of the newly combined company.

    The deal remains subject to regulatory approval.

    Full content: Nasdaq

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.