Monday April 6, 2020

AbbVie considers ending Shire acquisition deal

AbbVie is considering scrapping the planned £32.4 billion acquisition of Shire drugmaker in what would be the biggest casualty of the US crackdown on so-called tax inversions.

15th October, 2014
Shire stock had dropped to 29 per cent at 8:12 a.m. in London

AbbVie is considering scrapping the planned £32.4 billion acquisition of Shire drugmaker in what would be the biggest casualty of the US crackdown on so-called tax inversions.

Shire’s stock plummeted the most in 12 years after AbbVie said its board will meet on October 20 to reconsider its recommendation that shareholder approve the deal.

AbbVie expected to lower its tax burden by buying the Dublin-based Shire and moving its legal address to the UK. In...

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