20th Oct 2014 05:39
LONDON (Alliance News) - Shire PLC is to embark on the acquisition trail again following the collapse of its proposed takeover by US drugs group AbbVie Inc, The Sunday Times reported on Sunday.
The FTSE 100 company is understood to have revived its interest in buying several American targets, including NPS Pharmaceuticals Inc and Cubist Pharmaceuticals, the paper said.
It is understood Shire will say in its third-quarter results statement on Friday that it no longer expects the deal with AbbVie to go through. The deal collapsed after AbbVie recommended to its shareholders to reject the merger due to "unacceptable levels of uncertainty" surrounding a crackdown on tax inversion deals in the US. AbbVie pursuit of Shire had been a deal widely cited in example of this kind of deal.
http://www.thesundaytimes.co.uk/sto/business/Companies/article1472664.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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