U.K. drugmaker Shire has accepted AbbVie’s takeover offer for about $55 billion in a deal that will allow the U.S. firm to reduce its reliance on arthritis treatment Humira and slash its corporate tax rate by relocating to the U.K. The firms plan to establish a new company that will be incorporated on Jersey and tax-domiciled in Britain. The acquisition is expected to be finalized in the fourth quarter.
