Hefty payouts for senior Shire executives after deal with AbbVie
July 19 , 2014
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.