AbbVie is buying Botox maker Allergan in a cash-and-stock deal valued at around $63 billion.
The maker of the blockbuster immune disorder treatment Humira said Tuesday that it will pay $120.30 in cash and a portion of AbbVie stock for each Allergan share. That amounts to $188.24 per share, or a 45% premium to Allergan's closing price Monday.
Shares of Allergan Plc, based in Dublin, Ireland, jumped nearly 30% before the opening bell. Allergan Plc was formed in 2015 when Irish-registered Actavis Plc acquired U.S.-registered Allegan Inc., then headquartered in Irvine, and assumed the Allergan name. AbbVie shareholders will own 83% of the specialty drug company combination after the deal's completion while Allergan shareholders will have a 17% stake.Shares of AbbVie Inc., based in North Chicago, Ill., sank 10% before the opening bell.
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