The fifth time may be the charm for the sensationalized takeover of Shire, the global biopharmaceutical company whose U.S. operations are based in Wayne.

Shire has now indicated it is close to recommending a more than $53.6 billion buyout bid by Chicago’s AbbVie Inc. as long as a breakup fee, management roles and governance plans can be agreed on, the Wall Street Journal reported Monday.

The offer escalates previous bids of $51.5 billion and $46.5 billion, all fueled by AbbVie’s intense desire to relocate its headquarters to Shire’s Dublin, Ireland, offices in order to pay less in corporate taxes. It also puts the takeover in the running for the biggest deal of the year — and on the verge of creating a new heavyweight player in the prescription drug industry.

Read more about the latest offer and how it compares to other big inversion-driven mergers in the Wall Street Journal here.  Previous Chesco Business Today coverage of AbbVie’s proposals can be found here, here and here