Insight journal - Dealtalk

Abbvie chases Shire again

Posted on 01 July 2014

Tags: , , ,

The boss of US drug-maker AbbVie is flying into London this week to court Shire’s shareholders and try to convince them of the merits of a potential takeover.

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)



Browse: Complete Current Partnering report catalog

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

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter – reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

Print Friendly, PDF & Email

Leave a Reply