Allergan spikes 30% after AbbVie agrees to buy the Botox-maker for $63 billion

AbbVie expects the acquisition to generate at least $2 billion in pre-tax synergies and cost reductions within three years.

Shares of Allergan surged more than 30% in early trading on Tuesday after AbbVie agreed to acquire the drugmaker for $63 billion. AbbVie's bid of $188 a share in cash and stock represents a 45% premium from Allergan's closing price on Monday. The acquisition will give AbbVie access to Allergan's portfolio of profitable beauty drugs, including Botox. Watch Allergan trade live.

Shares of Allergan surged more than 30% in early trading on Tuesday after AbbVie agreed to acquire the drugmaker for $63 billion. AbbVie's bid of $188 a share in cash and stock represents a 45% premium from Allergan's closing price on Monday. The acquisition will give AbbVie access to Allergan's portfolio of profitable beauty drugs, including Botox. Watch Allergan trade live.

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