AbbVie’s $63 Billion Mistake

AbbVie (NYSE: ABBV) announced this morning its intention to acquire Irish drugmaker Allergan (NYSE: AGN) in a stock-and-cash deal for $63 billion (or $188.24 per share). More specifically, AbbVie is offering Allergan shareholders $120.30 in cash and 0.866 AbbVie shares per share of Allergan they currently own.