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Stock Market & Financial Investment News

News Breaks
June 20, 2014
05:27 EDTABBV, SHPGShire confirms rejection of AbbVie proposal
Shire (SHPG) notes the announcement made by AbbVie (ABBV) and confirms that on May 30, Shire received an unsolicited and highly conditional proposal from AbbVie regarding a possible cash and share offer for Shire. This Proposal has been rejected. The Proposal comprised 20.44 in cash and 0.7988 AbbVie shares per Shire share. The Proposal involved a new U.S. listed holding company with a UK tax domicile. Based on AbbVie's 30 day volume weighted average share price of $54.10, the Proposal represents a value of GBP 46.11 per Shire share. Following this meeting, the board of Shire decided unanimously to reject the Proposal on the basis that it fundamentally undervalued the company and its prospects. The board also had concerns regarding the execution risks associated with the proposed inversion structure, as AbbVie would redomicile in the UK for tax purposes.
News For SHPG;ABBV From The Last 14 Days
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June 30, 2015
07:32 EDTABBVJuno pact leaves Celgene set for growth past Revlimid, says Deutsche Bank
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June 26, 2015
12:02 EDTABBVEMA adopts positive opinion on AbbVie's Humira for acne inversa
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June 25, 2015
13:58 EDTSHPGShire initiated with a Reduce at HSBC
Price target GBP 47.34.
June 24, 2015
06:12 EDTABBVAbbVie announces new TURQUOISE-III study results
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