Shire Rises Most Since 2006 After AbbVie Confirms Approach
2014-06-20 07:07:19.388 GMT
By Allison Connolly
June 20 (Bloomberg) -- Shire up as much as 14%, the most
since Oct. 2006; vol. at 29% of 3-mo. daily avg.
* Panmure (buy) says offer of GBP46.26/shr implies 25x PER,
which for a growth stock is “barely adequate”
* Says AbbVie may be able to increase its offer to >GBP50
depending on tax inversion benefits
* NOTE: Earlier, AbbVie Confirms Made Approach to Shire
* NOTE: Earlier, MORE: AbbVie Says Shire Rejected Approaches,
Talks Are Off
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-06-20 07:07:19.388 GMT
By Allison Connolly
June 20 (Bloomberg) -- Shire up as much as 14%, the most
since Oct. 2006; vol. at 29% of 3-mo. daily avg.
* Panmure (buy) says offer of GBP46.26/shr implies 25x PER,
which for a growth stock is “barely adequate”
* Says AbbVie may be able to increase its offer to >GBP50
depending on tax inversion benefits
* NOTE: Earlier, AbbVie Confirms Made Approach to Shire
* NOTE: Earlier, MORE: AbbVie Says Shire Rejected Approaches,
Talks Are Off
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net