Shares of Botox Maker Allergan Get a Lift

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AbbVie (ABBV) - Get AbbVie, Inc. Report is Real Money's Stock of the Day. 

The biopharmaceutical giant announced a $63 billion takeover of Allergan (AGN) - Get Allergan plc Report

AbbVie will pay $188.24 in cash and stock for each of Allergan's common shares outstanding, a 45% premium to Allergan's Monday closing price, in a deal that would value the Botox maker at around $63 billion. AbbVie said the deal will add around 10% to its adjusted earnings in the first year and it will be incorporated in Delaware upon completion.

AbbVie's Richard Gonzalez will continue as chairman and Chief executive officer, the company said, and its main headquarters will remain in North Chicago, Illinois. Allergan CEO Brent Saunders will join the combined group's board when the deal is closed, the companies said, which is expected to be in early 2020.

For more in-depth coverage of the AbbVie-Allergan deal get over to RealMoney.

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