AbbVie’s shares tanked after announcing its plans to acquire the drugmaker Allergen…
Shares of AbbVie fell more than 15% on Tuesday after the company announced it plans to acquire the drugmaker Allergan for $63 billion. The price represents a 45% premium over Allergan’s closing price on Monday.
AbbVie’s shares were trailing even before the announcement as investors became increasingly concerned about declining sales. The Allergan announcement simply added more fire to these concerns.
However, this announcement was good news for Allergan shareholders, who have been pushing for the company to either split or be sold. Allergan’s stock soared more than 26% on Tuesday.
Continue reading “AbbVie Investors: Is the Company Making a $63 Billion Mistake?”
