Just five weeks after Pfizer walked away from its £70bn attempt to buy AstraZeneca, another American suitor has come knocking on the door of a London-listed pharmaceutical company, lured by the tantalising prospect of the much lower tax rate that comes with a European domicile.
On the face of it, AbbVie’s $46bn (£27bn) pursuit of Shire looks to have more than just the brushstrokes of Pfizer and AstraZeneca – a US drugmaker, eyeing a UK target, with tax advantages at the forefront of rationale.
But the latest deal has failed to provoke the political furore that Pfizer’s bid for AstraZeneca ignited.
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