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Shire Agrees to AbbVie Bid

July 16, 2014

After four unsuccessful bids, Chicago-based AbbVie Inc. may be acquiring Ireland-based Shire PLC

This week, Reuters reports, Shire PLC has agreed to a $53-billion takeover offer from AbbVie, Inc. The company, based in Ireland, had rejected Abbvie's four previous bids. Chicago-based AbbVie reportedly wants the company to cut its tax bill and diversify its product lines.