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Wednesday, April 24, 2024
News Business

Shire clears way for earlier AbbVie meeting

By  sarahtr
   
SHARE Shire clears way for earlier AbbVie meeting

Shire Plc on Wednesday waived a three-day notice requirement so AbbVee Inc.’s board can meet sooner about its recommendation of the companies’ $55 billion merger.

Drugmaker Shire said it agreed “to allow the period of uncertainty for its shareholders, employees and other stakeholders to be reduced.”

AbbVie announced late Tuesday its board wants to reconsider the merger after the U.S. Treasury Department announced new regulations aimed at discouraging corporate inversions.

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