Quantcast
logo

Hefty payouts for senior Shire executives after deal with AbbVie

  • Executives of Shire are set to receive multimillion-pound windfalls after the British pharmaceutical major sealed a £32bn deal leading to its takeover by American drugs firm AbbVie.

    AbbVie has come out with a package totaling £19.2m as an incentive to 31 senior Shire executives to stay on after the takeover.

    After intense negotiations, AbbVie also agreed to hand over £960m in case it walks away. And if shareholders of AbbVie vote against the deal, the American firm has agreed to pay at least $500m to the British pharma company in compensation.

     

    Tagged as: Shire, executives, windfalls, British pharmaceutical, deal, takeover, American drugs firm, AbbVie, compensation, incentive, business news