Allergan Shareholders Oks Acquisition By AbbVie

(RTTNews) - Allergan plc (AGN) said Monday that a majority of its shareholders approved the proposed acquisition of Allergan by AbbVie Inc (ABBV).

Allergan stated that more than 99 percent of the votes cast at both a special court-ordered meeting of shareholders and at an extraordinary general meeting of shareholders were in favor of the transaction, representing about 68.6 percent of the shares outstanding and eligible to be voted at each of the Allergan shareholder meetings.

In June 2019, AbbVie agreed to acquire Allergan in a cash and stock transaction with an equity value of approximately $63 billion. The transaction is expected to close in early 2020, subject to customary closing conditions and regulatory approvals.