AbbVie Makes $63B Bid for Botox Maker Allergan - NECN
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AbbVie Makes $63B Bid for Botox Maker Allergan

Regulators and Allergan shareholders still need to approve the deal

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    AbbVie Makes $63B Bid for Botox Maker Allergan
    AP
    This March 20, 2002 file photo shows a vial of Botox, made by Allergan. (AP Photo/Damian Dovarganes)

    AbbVie is buying Botox maker Allergan in a cash-and-stock deal valued at about $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.

    AbbVie shareholders will own 83% of the specialty drug company combination after the deal's completion while Allergan shareholders will have a 17% stake.

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    Regulators and Allergan shareholders still have to approve the deal.

    Shares of AbbVie Inc., based in North Chicago, Illinois, sank 10%.