Abbvie buys Allergan for $63BOctober 14, 2019
Allergan’s shareholders have voted to approve to be bought by AbbVie Inc for approximately $63 billion, as more than 99 percent of the votes cast were in favor of the transaction, representing about 69% of the shares outstanding and eligible to be voted at each of the Allergan shareholder meetings held on October 14, 2019 in Dublin, Ireland.
Allergan’s CEO and Chairman, Brent Saunders, said that this combination will create a leading biopharmaceutical company with a diversified portfolio and enhanced opportunity to invest in and deliver innovation for the patients we serve.
Under the terms of the agreement announced on June 25, 2019, AbbVie will buy Allergan in a cash and stock transaction for a transaction equity value of approximately $63 billion, based on the closing price of AbbVie’s common stock of $78.45 on June 24, 2019, Allergan shareholders will receive 0.8660 AbbVie Shares and $120.30 in cash for each Allergan share, for a total consideration of $188.24 per Allergan share. The transaction is expected to close in early 2020, subject to customary closing conditions and regulatory approvals, Allergan said in the press release.
On October 14, at 19:00 CET, AbbVie shares stood at $74.00, + +0.37
from previous closure. Allergan shares were Price$169.43, also 0.36 up from previous closure.
Allergan will be filing a Form 8-K with the U.S. Securities and Exchange Commission setting forth the final results of voting on each of the items submitted to a vote of Allergan’s shareholders at the Court Meeting and the EGM. The final results of voting on each of the items submitted to a vote of Allergan’s shareholders at the Court Meeting and the EGM are as follows.