Rick Gonzalez, chief executive and chairman of AbbVie, is expected to schedule meetings with a host of Shire’s biggest investors, ahead of potentially raising its takeover offer.
Mr Gonzalez has already had three takeover offers rejected by Shire’s board, with his last proposal valuing the company at £27bn, or £46.11 per share.
It is understood that AbbVie will only sweeten its offer after having a better sense on valuation from shareholders.
Analysts are divided about how much AbbVie will have to raise its offer by. Estimates range between £55 and £62 per share. An offer above £50 could be enough to prompt Shire’s board to engage, one analyst said, while another countered that the scarcity of Shire’s drug portfolio will mean AbbVie will have to stump up a high price.
View the article at Telegraph
For further deal information visit Current Agreements (subscription required)
View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity
View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity