The acquisition of Allergan plc (AGN) by AbbVie (ABBV) has been completed, ending the stock market listing of Allergan. In a press release dated May 8, 2020, AbbVie announced that it has completed its acquisition of Allergan plc following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court.
Allergan last raised its quarterly dividend by 2.8 percent to $0.74 per share in the first quarter of 2019. The botox maker initiated a dividend in 2016.
Under the terms of the transaction agreement, Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each Allergan share, for a total consideration of $193.23 per Allergan share (based on the closing price of AbbVie's common stock of $84.22 on May 7, 2020). Allergan common stock ceased trading on the New York Stock Exchange as of the close of trading today.
Allergan plc, headquartered in Dublin, Ireland, is a pharmaceutical company. The company makes branded pharmaceutical, device, biologic, surgical and regenerative medicine products. Allergan markets a portfolio of brands and products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories. The company's best known brand is Botox.