San Diego, CA -- (SBWire) -- 06/06/2018 --The Shareholders Foundation announces that an investor in shares of Shire plc (NASDAQ: SHPG), filed a lawsuit over the failed takeover of Shire plc. by AbbVie Inc.
Investors who purchased shares of Shire plc (NASDAQ: SHPG) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges the AbbVie failed to fully analyze the potential acquisition of Shire plc before abruptly abandoning merger plans.
On June 20, 2014: AbbVie Inc noted the press speculation and confirmed it made an indicative approach to Shire plc (with a merger proposal which was rejected by the Board of Shire. AbbVie Inc said that the discussions are no longer ongoing.
Then on June 25, 2014, AbbVie Inc disclosed its proposal to the Board of Shire of £20.44 in cash and 0.7988 ordinary shares of New AbbVie for each Shire share.
On July 8, 2014, AbbVie Inc disclosed its revised proposal of £22.44 in cash and 0.8568 ordinary shares of New AbbVie for each Shire share.
On July 18, 2014, AbbVie Inc and Shile PLC announced that they have reached an agreement to combine Shire and AbbVie Inc. Under the terms of the Merger, Shire Shareholders were entitled to receive for each Shire Share: £24.44 in cash and 0.8960 New AbbVie shares.
Then on October 20, 2104, AbbVie Inc. and Shire plc have agreed to terminate their proposed merger following the decision by AbbVie's Board to withdraw support for the proposed transaction.
Those who are current investors in Shire plc (NASDAQ: SHPG) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Shire Plc (NASDAQ:SHPG) Shareholder Notice: Lawsuit over Failed Takeover by AbbVie Inc
A lawsuit was filed by an investor of Shire plc (NASDAQ: SHPG) in connection the failed takeover of Shire plc by AbbVie Inc and NASDAQ: SHPG stockholders should contact the Shareholders Foundation.