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AbbVie re-thinks £32bn Shire deal

  • 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.

     

    Tagged as: American, drug company, AbbVie, shareholders, Shire, Illinois, overseas tax benefits, business news