Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Shire pharmaceutical valued at £30bn in new AbbVie bid

8/07/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmzqvmdkvmzczl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Pharmaceutical company Shire has been valued at £30bn in a raised bid from the US rival which has been trying to take control of the business for weeks.

The chairman of Chicago-based AbbVie urged Shire shareholders to back its fourth offer for the FTSE 100 company, which is best known for its controversial treatment for attention deficit hyperactivity disorder.

Richard Gonzalez, who is also chief executive of AbbVie, said: “This transaction is a combination of two leading companies with leadership positions in specialty pharmaceuticals that would create a global market leader with unique characteristics and a compelling investment thesis.

“AbbVie has made a compelling offer to Shire that creates immediate and long-term value to shareholders of both companies. We think its shareholders should strongly encourage the Shire board to engage in constructive dialogue with AbbVie,” Gonzalez said.

The latest offer values each Shire share at £51.15 – above the current price of £46.30 – and is based on a mixture of cash and AbbVie shares. This compares with the £46.11 a share in the offer made public in June which prompted Shire’s boss Flemming Ørnskov to set out a plan to double sales over the next seven years in an attempt to remain independent.

Ørnskov, who has been running Shire since May 2013, set out a plea to remain independent last month even as he admitted that he could not close the door on bids.

The offer for Shire, which moved its tax base to Dublin in 2008, follows the ill-fated attempt by US pharmaceutical company Pfizer to take control of FTSE 100 company AstraZeneca.

This article has been extracted from http://www.theguardian.com, please click on this link to read the article in full http://www.theguardian.com/business/2014/jul/08/shire-pharmaceutical-30bn-new-abbvie-bid

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdkvmjkvmdgvmtmvmjkvmjgyl1vudgl0bgvkigrlc2lnbiaomjuplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Are PSLs a Blocker or an Enabler?

2017-10-02 11:00:00 +0100

The use of a Preferred Supplier List (PSL) was intended to support and strengthen relationships and performance between organisations and their third party suppliers. As the technical landscape continues to evolve at rapid rate recruitment and demand for new skills becomes more intense. Are PSLs still the solution or an obstacle to sourcing the right talent? The traditional PSL A dedicated list of partners intended to guarantee quality and availability ...

W1siziisijiwmtcvmdkvmjevmdgvndmvmduvmtmxl1vudgl0bgvkigrlc2lnbiaomjmplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Why do we punish the victims of hacking?

2017-09-21 09:00:00 +0100

Hacks occur every 39 seconds, with 95% of them targeting governments, retailers and the tech industry. If the hackers are caught, they'll face prison time under the Computer Misuse Act. More often than not, the businesses who are victims of those attacks expose themselves to punishment of their own. The laws that determine the duty of protection owed to businesses and their customers is both vague and broad, making them question just how much protection...