After first vowing to see the merger through despite new tax rules designed to make a merger much more difficult, AbbVie's board publicly hesitated yesterday and then early this morning recommended against going through with the tie-up, essentially killing the deal.
ConvaTec, maker of wound, ostomy and skin care products is exploring a sale of itself for as much as $10 billion with investment banks Morgan Stanley and Goldman Sachs.
Shire, which believed only a day ago that it would soon be bought out by AbbVie in a $54 billion deal prompted by tax advantages, is not going to just roll over and play dead now that its pursuer is getting cold feet. It insists the deal should go through.
AbbVie to Shire: Maybe that idea about merging regardless of what the Obama administration thinks wasn't so hot after all.
Sterilization and infection prevention products and services company Steris will acquire its more globally-focused peer Synergy Health in a cash and stock deal worth about $1.9 billion.
Ranbaxy Laboratories has been a steady source of bad news over the past several years. And now that India-based rival Sun Pharmacueticals is preparing to take over, the company's top U.S. leadership is throwing in the towel.
European Union antitrust regulators will now rule on the proposed $13.4 acquisition of Biomet by Zimmer by March 11, instead of Feb. 16, according to the European Commission's website.
As Sweden's Meda wraps up its buyout of the Italian drugmaker Rottapharm, it's rolling out a rights issue--to the tune of 2 billion kronor, or about $276 million--to help finance the deal.
Days after Medtronic revealed plans to refinance its $42.9 billion acquisition of Covidien due to new tax rules cracking down on inversions, the company announced a corporate shakeup pending the deal's close.
Back in August, Impax Laboratories CEO Fred Wilkinson told investors on a conference call that the company was "well-positioned to execute on a number of transactions." And now, the company has pulled the trigger on one of those deals, spending $700 million on a pair of Pennsylvania drugmakers.