Monday 14 July 2014

A further update to my what's missing from AbbVie's £27 billion takeover bid for Shire story?

I wonder whether the market will finally find out whether Lazard has secured a role on the AbbVie/Shire deal?

(for readers wondering why I have posited this question it might be worthwhile clicking on the link to this previous article:

I mean, you would have thought a counter bidder (Allergan/Amgen?) might step forward now that Shire is finally about to receive a formal, recommended offer from AbbVie. Here is a link to Shire's statement from this morning:

Or, perhaps Lazard will be brought in (or has already been appointed) by Shire's board as a rule "3 adviser"?

Last time I checked (I have to admit it was some time ago) rule 3 advisers are appointed by British company boards to advise on whether an offer is "fair" if the target company's existing investment banking advisers have commercial relationships with the the bidder.

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