Ashurst advised J.P. Morgan as financial adviser to AbbVie Inc. on its £32 billion merger with Shire plc. Under the terms of the merger, Shire shareholders will be entitled to receive £24.44 in cash and 0.8960 shares in New AbbVie for each Shire share. Based on AbbVie's 30-day volume-weighted average price of $54.83 to 17 July 2014, the merger terms represent an indicative value of £53.19 per Shire share. The merger is primarily being funded by AbbVie through existing cash resources and a new bridge credit facility.

The Ashurst team was led by corporate partners Adrian Clark and Karen Davies, assisted by senior associate James Fletcher, and associates Chris Phillips and Claire Broom. The finance team comprised partners Mark Vickers and Ross Ollerhead. Partner Paul Randall provided advice in relation to employee share schemes and options. Counsel Caroline Chambers also assisted.