Natalie Parkinson
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AbbVie has raised its offer for shire to $51.5 billion

AbbVie Inc. made a fourth offer to buy Shire Plc, raising the price to about 30.1 billion pounds ($51.5 billion) in an effort to force negotiations. Shire said its board would meet to discuss the bid.

AbbVie increased its offer by about 11 percent to 51.15 pounds a share in cash and stock after meeting with Shire’s top shareholders, the drugmaker said today. Shire said in a statement that it wasn’t given AbbVie’s latest proposal ahead of time, and the company advised investors to take no action.