OR WAIT 15 SECS
AbbVie (North Chicago, IL) has agreed to acquire Allergan (Dublin, Ireland) for a transaction equity value of approximately $63 billion. AbbVie will pay $188.24 for each share of Allergan, made up of $120.30 in the form of cash and the rest in stock. The combined company will consist of several attractive franchises with leadership positions across immunology, hematologic oncology, medical aesthetics, neuroscience, women's health, eye care and virology, with Allergan's product portfolio enhanced by AbbVie's commercial strength, expertise and international infrastructure, the companies reported in a press statement. "With 2019 annual combined revenue of approximately $48 billion, scale in more than 175 countries, an industry-leading R&D pipeline and robust cash flows, our combined company will have the opportunity to make even bigger contributions to global health than either can alone," said Brent Saunders, chairman and CEO, Allergan. "Our fast-growing therapeutic areas, including our world class medical aesthetics, eye care, CNS and gastrointestinal businesses, will enhance AbbVie's strong growth platform and create substantial value for shareholders of both companies." Upon completion of the transaction, AbbVie will continue to be incorporated in Delaware as AbbVie Inc. and have its principal executive offices in North Chicago, IL. The company will continue to be led by Richard A. Gonzalez as chairman and CEO. Two members of Allergan's Board, Saunders, will join AbbVie's Board.