AbbVie has dropped its proposed takeover of the Dublin-based Shire pharmaceutical company, recommending shareholders to vote against the $52 billion deal.
The company said that tax-rule changes would undermine the economic rationale for the deal.
Shire said it is considering the developments and will make an announcement “in due course”.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team