Boston, MA 10/16/2014 (wallstreetpr) – On October 15th the Board of Shire plc (NASDAQ: SHPG) released a press note in response to intimation by AbbVie Inc (NYSE:ABBV) that its board is reconsidering its previous decision to make a buyout offer to Shire plc. The press note from the target firm acknowledged that it has received a notice from the potential purchaser, as per the Cooperation Agreement signed between the two firms at the time of finalizing the deal. AbbVie Inc (NYSE:ABBV) has indicated that its board is reconsidering its pervious recommendation, and is currently evaluating between “withdrawing or modifying its previous” offer made to Shire plc (NASDAQ: SHPG). It has linked this development to the notice issued by the U.S Treasury Department on 22nd September regarding reverse mergers. Shire plc (NASDAQ: SHPG) has also noted that in the event of the deal falling through due to revision of offer, AbbVie Inc (NYSE:ABBV) is liable to pay $1.635 billion as breakup fee.
Hudson City Bancorp, Inc. (NASDAQ:HCBK) has continued to steadily lose investor confidence in its stock over the past few weeks of trading. The slide in its share price comes in the run up to the its holding company of Hudson City Savings Bank publishing of operational results for quarter ending on 30th September. The results will be made public on October 22 before market opening.
Liberty Interactive Corp (NASDAQ:QVCA) has announced that it will be exclusively airing the launch program of a “new lifestyle collection” designed by Ellen DeGeneres on October 24 at 8 PM (ET). In July this year, Ellen DeGeneres had announced the launch of her new collection branded as E.D. The program is being billed as the “The Ellen DeGeneres Show” and will be aired live from Los Angeles. In spite of these positive developments, the stock of Liberty took a huge 14.5 percent battering at the markets during trading yesterday.
