AbbVie Inc. (NYSE:ABBV) (“AbbVie”) announced today the commencement, in connection with its previously announced acquisition of Allergan plc (NYSE:AGN), of offers to exchange any and all outstanding notes of certain series issued by Allergan Finance, LLC (“Allergan Finance”), Allergan, Inc. (“Allergan Inc”), Allergan Sales, LLC (“Allergan Sales”) and Allergan Funding SCS (“Allergan Funding” and, together with Allergan Finance, Allergan Inc and Allergan Sales, “Allergan”) for new notes to be issued by AbbVie (the “AbbVie Notes”).
As previously announced, on June 25, 2019, AbbVie and Venice Subsidiary LLC, a wholly-owned subsidiary of AbbVie (“Acquirer Sub”), entered into a Transaction Agreement (“Transaction Agreement”) with Allergan plc. Under the terms of the Transaction Agreement, Acquirer Sub will acquire Allergan plc pursuant to a scheme of arrangement (the “Scheme”) under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the “Act”) and a capital reduction under Sections 84 to 86 of the Act (the “Acquisition”). As a result of the Scheme, Allergan plc will become a wholly-owned subsidiary of AbbVie.
Source: PR Newswire
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