European shares rise, helped by Shire bid

lunes 14 de julio de 2014 04:27 GYT

* FTSEurofirst 300 up 0.7 pct

* Shire to recommend shareholders accept AbbVie offer

* BES still weak after triggering market sell-off last week

By Alistair Smout

EDINBURGH, July 14 (Reuters) - European shares rose on Monday, boosted by M&A activity in the pharmaceutical sector and rallying from near two-month lows after their biggest weekly loss in four months.

UK-listed pharmaceutical Shire rose 2.6 percent after it said it was ready to recommend a new 53.20 pound ($90.53) per share offer from US firm AbbVie.

Reuters had reported on Saturday that Shire had asked AbbVie to sweeten its offer to close to 53 pounds in order for it to recommend the deal.

Shares in Shire touched an all-time high of 50.45 pounds.

"AbbVie are coming in at a decent level," said Manoj Ladwa, head of trading at TJM Partners.   Continuación...