AbbVie Officially Terminates Shire Deal
Monday, October 20, 2014 7:05 pm |
< 1 Minute Read
North Chicago, Illinois-based AbbVie has officially killed its planned $55 billion takeover of Dublin-based rival Shire following changes to U.S. tax rules.
The company had recommended its shareholders vote “no” on the deal last week. Under the terms of the deal, AbbVie will be made to pay a $1.64 billion breakup fee for changing its mind.
This article appeared in print in edition of Hamodia.
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