THE board of Basingstoke-based Shire plc agreed to merge with American drugs company AbbVie Inc.
The deal values Shire at around £32 billion, with the board recommending the most recent bid to its investors, of £53.20 per share.
Commenting on the merger, Richard 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.”
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