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)
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