News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Shire Comments On AbbVie (ABBV)’s Unchanged Proposal


6/25/2014 10:28:55 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Dublin, Ireland – June 25, 2014 – Shire plc (“Shire” or the “Company”) (LSE: SHP, NASDAQ: SHPG) notes today’s announcement by AbbVie Inc. (“AbbVie”) repeating its proposal of May 30, 2014, which comprised £20.44 in cash and 0.7988 AbbVie shares per Shire share (the “Proposal”).

Today’s announcement by AbbVie contains no new proposal and provides no material new information.

The Board of Shire has already considered this Proposal in detail and unanimously rejected it, concluding that it fundamentally undervalued the Company and its prospects.

Shareholders are strongly advised to take no action in relation to the Proposal. There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

This statement is being made by Shire without the prior agreement or approval of AbbVie.

NOTES TO EDITORS

Shire enables people with life-altering conditions to lead better lives.

We provide treatments in Rare Diseases, Neuroscience, Gastrointestinal and Internal Medicine and we are developing treatments for symptomatic conditions treated by specialist physicians in other targeted therapeutic areas such as Ophthalmology.

Shire’s product sales from continuing operations have increased from US$2,754 million in the financial year to 31 December 2008 to US$4,757 million in the financial year to 31 December 2013, representing a five-year compound annual growth rate of 11.6%. Shire’s Non GAAP diluted earnings per ADS have increased from US$3.86 in the financial year to 31 December 2008 to US$7.66 in the financial year to 31 December 2013, representing a five-year compound annual growth rate of 14.7%. Shire’s US GAAP diluted earnings per ADS have increased from US$0.86 in the financial year to 31 December 2008 to US$3.53 in the financial year to 31 December 2013, representing a five-year compound annual growth rate of 32.7%.

www.shire.com

CONTACTS

Shire
Jessica Mann
+44 1256 894 280
Stephanie Fagan
+1 201 572 9581

FTI Consulting (Media Adviser to the Company)
Andrew Lorenz (London)
+44 77 7564 1807
Ben Atwell (London)
+44 20 3727 1000
David B. Roady (New York)
+1 212 850 5600
Robert Stanislaro (New York)
+1 212 850 5600

Citi (Financial Adviser to the Company)
Christopher Hite
+1 212 816 1818
Jan Skarbek
+44 20 7986 4000

Deutsche Bank (Financial Adviser to the Company)
Nick Bowers
+44 20 7545 8000
Ben Lawrence

Evercore (Financial Adviser to the Company)
Francois Maisonrouge
+44 20 7653 6000
Edward Banks

Goldman Sachs (Financial Adviser to the Company)
Anthony Gutman
+44 20 7774 1000
Raj Shah

Morgan Stanley (Financial Adviser to the Company)
Michele Colocci
+44 20 7425 8000
Colm Donlon
Peter Moorhouse (Corporate Broking)

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com

comments powered by Disqus
AbbVie
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES