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May 5, 2020, 6:15 p.m. EDT

Abbvie's deal for Allergan clears U.S. antitrust hurdle

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By Claudia Assis

The deal for AbbVie Inc. /zigman2/quotes/202428675/composite ABBV +0.38% to buy Allergan Plc. has cleared an antitrust hurdle, the companies said late Tuesday. The U.S. Federal Trade Commission has accepted a proposed consent order in connection with the pending acquisition, satisfying "all required antitrust clearances needed" for the deal, they said. As part of order, Allergan has agreed to sell some treatments to AstraZeneca Plc. /zigman2/quotes/200304487/composite AZN -0.20% and Nestle SA /zigman2/quotes/210131093/composite NSRGY -0.77% . The two companies also said they have amended their agreement to stipulate that only one Allergan director will join the AbbVie board after the close. Allergan's current Chairman and Chief Executive Brent Saunders has elected not to join the AbbVie board "to provide more flexibility to pursue other opportunities in the sector," the companies said. The deal's closing remains subject to other closing conditions, including a hearing in Ireland on Wednesday.

/zigman2/quotes/202428675/composite
US : U.S.: NYSE
$ 92.73
+0.35 +0.38%
Volume: 5.55M
Aug. 11, 2020 3:40p
P/E Ratio
19.70
Dividend Yield
5.10%
Market Cap
$163.04 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/200304487/composite
US : U.S.: NYSE
$ 55.27
-0.11 -0.20%
Volume: 3.50M
Aug. 11, 2020 3:40p
P/E Ratio
67.41
Dividend Yield
2.48%
Market Cap
$143.94 billion
Rev. per Employee
$342,432
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/zigman2/quotes/210131093/composite
US : U.S.: OTC
$ 117.39
-0.91 -0.77%
Volume: 124,594
Aug. 11, 2020 3:24p
P/E Ratio
24.60
Dividend Yield
1.98%
Market Cap
$328.60 billion
Rev. per Employee
$303,353
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