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By Kate Holton LONDON (Reuters) - London-listed drugmaker Shire Plc succumbed to an increased 31 billion pounds ($53 billion) takeover offer from Abbvie Inc on Monday, signaling the conclusion to a long-running courtship largely motivated by tax. Shire said it was ready to recommend the deal, the latest in a list of mergers proposed by U.S. firms seeking to cut their tax rates, and which comes less than seven weeks after the collapse of Pfizer Inc's $118 billion bid for AstraZeneca Plc , also motivated in part by tax factors. Chicago-based AbbVie, which wants to buy Shire to cut its tax bill and diversify its product line-up, increased its offer to 53.20 pounds per share on Sunday, following a request from the Dublin-based group which had rejected four previous bids. Citing people familiar with the matter, Reuters had reported on Saturday that Shire, a maker of drugs for rare diseases, had asked AbbVie to sweeten its offer to near 53 pounds per share in order for it to recommend the deal.
NASHVILLE, Tenn. (AP) — Volkswagen plans to build a new seven-passenger SUV at its factory in Chattanooga, Tennessee, adding about 2,000 factory jobs as it tries to reverse U.S. sales that have fallen for the past two years.