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AbbVie, Shire shares soar after Reuters exclusively reports bid approach

U.S. drugmaker AbbVie’s shares rose more than 5 percent in aftermarket trading on Thursday after Reuters exclusively reported that it had recently approached London-listed Shire about a potential takeover. The bid was the latest attempt by a U.S. healthcare company to try to buy an overseas rival partly to lower their tax rate.

AbbVie and Shire confirmed the Reuters report overnight, saying Shire had rejected AbbVie’s $46 billion bid as too low. Shire’s shares rose more than 15 percent when they started trading in London the next morning.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
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