AbbVie to Acquire Shire for £24.44 in Cash and 0.8960 New AbbVie Shares

The Boards of AbbVie ABBV and Shire SHPQ announced Friday, that they have reached agreement on the terms of a recommended merger of the two pharmaceutical companies. Under the terms of the merger, Shire Shareholders will be entitled to receive for each Shire Share £24.44 in cash and 0.8960 New AbbVie Shares. Both Boards have approved the transaction. The New AbbVie Shares are expected to be listed on the New York Stock Exchange.