Brace for $1.6bn fall-out: AbbVie board wavers on Shire offer
This article was originally published in Scrip
Executive Summary
AbbVie's board of directors has decided to rethink its recommendation for the $53bn offer for Shire in light of the US Treasury's planned tightening of tax rules, announced on 22 September. Withdrawing from the bid could prove costly: the US firm agreed a break fee of about $1.635bn which would be payable even if the tax situation changed.