Ireland drugmaker rejects $46B bid from U.S. giant

Ireland-based drugmaker Shire Pharmaceuticals has rejected a $46 billion bid from U.S. drug giant AbbVie, the firms separately confirmed in statements early Friday.

According to USA Today, the latest rejection follows two earlier bids from AbbVie that also were snubbed.

"The board believes the proposal fundamentally undervalued Shire and its prospects and that as an independent company, Shire's focused growth strategy will continue to deliver significant shareholder value and patient benefits," Shire Chairwoman Susan Kilsby said.

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