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AbbVie to pay Shire $1.64B fee over nixed merger

2014-10-21 04:05:46| Biotech - Topix.net

AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said Monday that they deal was off following the decision last week by AbbVie's board to withdraw support from the proposed acquisition.

Tags: pay fee merger shire

Category:Biotechnology and Pharmaceuticals

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