Shots Fired in the Next Tax Fleeing Battle

AbbVie has made a move on Shire, but will a bidding war emerge for the Irish drugmaker?

Jun 23, 2014 at 5:15PM

Perpetual takeover target Shire (NASDAQ:SHPG) is officially in play.

Long rumored as a takeover candidate given its strong ADHD franchise, its orphan drug focus, and most importantly its low Irish tax rates, Shire has an actual suitor in big pharma AbbVie (NYSE:ABBV). However, its private solicitations weren't enough to get a deal done, so the big pharma is making its case publicly for the newest tax-fleeing, inversion deal.

Shots have been fired and Shire is fighting back. Not wanting to be an easy acquisition or even the subject of a bidding war company management made its case as a stand alone entity highlighting sustainable double digit growth that is undervalued by AbbVie's $46.5 billion offer.

In this episode of Market Check-Up, the Motley Fool's health care focused investing show, analysts David Williamson and Michael Douglass, discuss the AbbVie's offer, what makes Shire so attractive, and why a bidding war could likely emerge. Watch and find out.

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David Williamson owns shares of AbbVie. Michael Douglass has no position in any stocks mentioned. The Motley Fool recommends Valeant Pharmaceuticals. The Motley Fool owns shares of Valeant Pharmaceuticals. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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