AbbVie Urges Talks With Shire, May Have To Raise Bid To $51 Billion

AbbVie Inc. (ABBV), which was rejected on three different takeover offers for Shire Plc (SHP), may have to raise its bid to about 30 billion pounds ($51 billion) to persuade the drugmaker’s board to sell.

A proposal of about 51 pounds a share would do the trick, according to the average estimate of five analysts compiled by Bloomberg News. AbbVie’s latest cash-and-stock offer valued Shire at about 27.3 billion pounds.

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