AbbVie Raises Bid For Shire, But Both Stocks Fall

By | July 8, 2014

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U.S. big pharma AbbVie (ABBV) raised its offer for British drugmaker Shire (SHPG) by 11% Tuesday morning, but Wall Street seemed pessimistic as both stocks fell on the stock market today . AbbVie offered 22.44 British pounds and an 0.8568 AbbVie share for each share of Shire, which works out to more than $51 billion. It’s AbbVie’s fourth Scalper1 News

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