The chief executive of an American drug firm chasing UK rival Shire will lay the ground for a fourth bid to buy the group this week by touring City shareholders.
AbbVie chief executive and chairman Rick Gonzalez will troop around Shire’s shareholders, which include fund managers like BlackRock and Legal & General Investment Management, to gauge reaction for another bid following three failed attempts by Gonzalez to land the group.
A £46.11 a share bid for the group, valuing the drug maker at £27bn, was dismissed by Shire’s bosses but a fourth offer is widely expected from AbbVie.
Shire bosses spent last week touring its shareholder base to shore up support for its rejection of the bid.
The takeover mirrors US drug giant Pfizer’s £69bn takeover attempt for Astrazeneca, which failed despite widespread shareholder support from Astrazeneca shareholders to get a deal done.