AbbVie presses case for Shire deal in discreet roadshow

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AbbVie presses case for Shire deal in discreet roadshow

By Ben Hirschler LONDON (Reuters) - AbbVie Chief Executive Richard Gonzalez has pressed the case for his $46 billion pursuit of drugmaker Shire in discreet meetings with shareholders in London this week and is now weighing his next move, according to people familiar with the matter. Shire shareholders who met with Gonzalez said he had reiterated the case for a deal, arguing that AbbVie would create more value from Shire’s assets than the hyperactivity and rare diseases specialist could do on its own. Gonzalez, who under British takeover rules has until July 18 to make a firm bid for Shire or walk away, has flown back to Chicago for the U.S. long holiday weekend. Shire has rejected three separate proposals from the U.S. group, arguing the last offer of 46.26 pounds a share in cash and stock fundamentally undervalued the company.

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