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Thursday, April 25, 2024
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AbbVie to pay Shire $1.64B fee over nixed merger

By  Sun-Times Wire
   
SHARE AbbVie to pay Shire $1.64B fee over nixed merger

AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said Monday that they deal was off following the decision last week by AbbVie’s board to withdraw support from the proposed acquisition. Shire had rejected several unsolicited offers from AbbVie before the companies made the deal in July.

Read more at Newsfeed.

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