Allergan announced it will not make an offer for Shire.
The company will continue to evaluate its potential strategic actions, according to a press release.
Allergan will not bid for Shire plc, the company announced. Source: Shutterstock
In an earlier release, Allergan responded to media speculation regarding a possible offer by saying it would announce its intentions before the May 17 deadline under the U.K. Takeover Code.
Takeda, a Japanese-based pharmaceutical firm, offered to acquire Shire for 46.50 pounds per share. However, Shire’s board rejected the proposal.
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