AbbVie Not Looking for Jumbo Deals After Abandoning Shire
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AbbVie Inc. probably won’t make another $50 billion-plus deal after walking away from a planned merger with Shire Plc, said Chief Executive Officer Richard Gonzalez.
“There were certain attributes of the Shire transaction that made it unique and out of the normal course of our M&A strategy,” including the opportunity to relocate AbbVie’s tax address to the U.K., Gonzalez said today on a conference call discussing third-quarter results. “I don’t think it’s likely we will do another $50 billion deal.”