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

W1siziisijiwmtcvmdyvmtkvmtavndkvmtavntuvc2h1dhrlcnn0b2nrxzqymzk2mjg2ni5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Long Term Transition, Not Long Term Tradition...

2017-06-20 09:00:00 +0100

It seems odd that while 88% of businesses are undergoing some kind of digital transformation[1], only 25%[2] of them have a clear understanding of their digital transformation journey. So what's driving so many businesses to pursue digital with such recklessness? Broadly speaking, the reason is simply the unprecedented rate of change in digital solutions and services. As we ride the digital tidal wave, consumers and employees change their expectations, ...

W1siziisijiwmtcvmdyvmtmvmtavmjqvmjuvodcxl3nodxr0zxjzdg9ja181njewnja3mzmuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

How Great Leaders Cultivate Great Teams

2017-06-13 12:00:00 +0100

There's a difference between being a boss and being a leader. Leaders know how to inspire the best from their teams to achieve industry-leading results. For our latest blog, we spoke to our Managing Director, Roy Dungworth, to discover how businesses can create a culture that inspires great people to do great things together. Success in business doesn't begin and end with great leadership. Great leaders inspire their teams to want to do more and be bett...