AbbVie re-thinks £32bn Shire deal
October 16 , 2014
American drug company AbbVie is in favor of its shareholders voting against a takeover deal for Shire, according to media reports.
AbbVie, which is based in Illinois, said recent changes in tax had brought an “unacceptable level of uncertainty” to the £32 billion deal.
It said the government's curbing of overseas tax benefits had led to a re-think. AbbVie's chief executive said it was no longer in the “best interests of our stockholders to proceed” with the deal.