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AbbVie Inc. (NYSE: ABBV) stock was up 2.45% at noon Friday after the Chicago-based company announced it finally inked a $54.8 billion deal with Ireland-headquartered Shire Plc. (Nasdaq ADR: SHPG) after weeks of back-and-forth negotiations.
The move has strategic merit in that it gives AbbVie a much-needed new drug portfolio. But it's the substantial tax advantage that figures heavily into the equation.