Shire willing to discuss AbbVie’s 5th revised proposal
The revised proposal comprises $41.83 in cash and 0.8960 shares of New AbbVie per Shire share. Based on the AbbVie share price on July 11, AbbVie’s revised proposal has an indicative value of $91.04 per Shire share. Shire shareholders would own approximately 25% of the combined New AbbVie.
The board of Shire could be willing to recommend the revised proposal to Shire shareholders. The revised proposal remains subject to the pre-conditions set by AbbVie on July 8, including due diligence and the recommendation of the board of Shire. Accordingly, the board is in discussions with AbbVie in relation to these terms.
There can be no certainty that any firm offer will be made.