Shire Plc (SHP.L) have finally come to agreement with US based AbbVie in a deal of £53.19 / share . This is the fifth offer the US company has made for shire and all previous offers were dismissed as undervaluing the potential of Shire.
Commenting on the Merger, Richard A. Gonzalez, Chairman of the Board and Chief Executive Officer of AbbVie said: ”By combining AbbVie and Shire, we’re creating a unique, diversified, biopharmaceutical company. The combined company would benefit from a best-in-class product development platform, a stronger pipeline and more enhanced R&D capabilities.
The combination of AbbVie and Shire is attractive for shareholders of both companies, bringing the potential for strengthened sustainability of top-tier EPS growth, attractive free cash flow and enhanced cash returns to shareholders. The combination would provide us with enhanced access to cash that we can use to expand our portfolio and fund M&A to supplement organic growth.” Commenting on the Merger, Susan Kilsby, Chairman of Shire said: “Shire has a long track record of delivering value for both shareholders and patients. Our growth profile has been accelerated under our new management team who have successfully executed a focused strategy. We believe that this offer reflects the substantial value that we have already created for Shire’s shareholders and the strength of our future prospects. We believe tat the combined group represents an exciting fit of two complementary businesses that will create a new market leader in specialty pharmaceuticals with a portfolio of fast growing products, a promising pipeline and enhanced growth prospects.”
Shire Plc (SHP.L) have finally come to agreement with US based AbbVie in a deal of £53.19 / share . This is the fifth offer the US company has made for shire and all previous offers were dismissed as undervaluing the potential of Shire.
Commenting on the Merger, Richard A. Gonzalez, Chairman of the Board and Chief Executive Officer of AbbVie said: ”By combining AbbVie and Shire, we’re creating a unique, diversified, biopharmaceutical company.
The combined company would benefit from a best-in-class product development platform, a stronger pipeline and more enhanced R&D capabilities.
The combination of AbbVie and Shire is attractive for shareholders of both companies, bringing the potential for strengthened sustainability of top-tier EPS growth, attractive free cash flow and
enhanced cash returns to shareholders. The combination would provide us with enhanced access to cash that we can use to expand our portfolio and fund M&A to supplement organic growth.”
Commenting on the Merger, Susan Kilsby, Chairman of Shire said:
“Shire has a long track record of delivering value for both shareholders and patients. Our growth profile has been accelerated under our new management team who have successfully executed a
focused strategy. We believe that this offer reflects the substantial value that we have already created for Shire’s shareholders and the strength of our future prospects. We believe tat the combined group
represents an exciting fit of two complementary businesses that will create a new market leader in specialty pharmaceuticals with a portfolio of fast growing products, a promising pipeline and
enhanced growth prospects.”