AbbVie agreed to buy Botox maker Allergan for about $63 billion in a cash-and-stock deal.
The Wall Street Journal first reported news of the deal earlier Tuesday.
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total consideration of $188.24 per Allergan share. At that price, it would represent a 45% premium above Allergan’s Monday closing price of $129.57.
Allergan’s shares soared nearly 30% in premarket trading. Shares of AbbVie were down more than 10%.
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