Industry news
AbbVie bid for Shire-update
AbbVie is making a bid for Shire Plc which so far has been rejected by the Board of Directors of Shire Plc as inadequate. Abbvie is now approaching the shareholders of Shire Plc and has increased its offer by 11% to £51.15 per Shire share. Abbvie wants to take advantage of the lower corporate tax rates that Shire enjoys and to expand its product base beyond Humira into the rare disease field.