We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Allergan To Acquire ZELTIQ in $2.47 Billion Deal, ZELTIQ Shares Pop 13%
Read MoreHide Full Article
Pharmaceutical giant Allergan announced on Monday they will acquire ZELTIQ Aesthetics in a $2.47 billion deal. Allergan expects the deal to close in the latter half of 2017.
ZELTIQ, a medical technology company, focuses on commercializing their proprietary controlled-cooling technology. Their first commercial product is the CoolSculpting System, designed to reduce fat. The system is based on the scientific principle that fat cells are more sensitive to cold compared to their surrounding tissues and skin. The technology treats areas with controlled cooling to reduce the temperature of the fat cells which is intended to eliminate fat cells through a natural biological process named apoptosis.
Allergan plans to integrate ZELTIQ’s best-in-class body contouring business with their facial aesthetics, plastic surgery and regenerative medicine business. Body contouring is a $4 billion global market opportunity for Allergen to actualize.
On news of the deal, both Allergan and ZELTIQ shares are up 0.43% and 13.46%, respectively. The deal represents a 14.4% premium on ZELTIQ’s Friday closing price of $49.40.
On news of the acquisition, CEO of ZELTIQ, Mark Foley, stated, “Allergan's world-class medical aesthetics products, global footprint, history and commitment to developing best-in-class aesthetic treatments makes the Company ideally suited to realize the maximum commercial potential of the ZELTIQ controlled-cooling technology platform”.
The acquisition of ZELTIQ is the latest of Allergan’s deal making. Allergan attempted to acquire Pfizer (PFE - Free Report) in 2016 for $160 billion. The deal died in early April due to the Obama administration tightening policy to prevent U.S. corporations from moving their tax headquarters overseas as Allergan is headquartered in Ireland and Pfizer in New York.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allergan To Acquire ZELTIQ in $2.47 Billion Deal, ZELTIQ Shares Pop 13%
Pharmaceutical giant Allergan announced on Monday they will acquire ZELTIQ Aesthetics in a $2.47 billion deal. Allergan expects the deal to close in the latter half of 2017.
ZELTIQ, a medical technology company, focuses on commercializing their proprietary controlled-cooling technology. Their first commercial product is the CoolSculpting System, designed to reduce fat. The system is based on the scientific principle that fat cells are more sensitive to cold compared to their surrounding tissues and skin. The technology treats areas with controlled cooling to reduce the temperature of the fat cells which is intended to eliminate fat cells through a natural biological process named apoptosis.
Allergan plans to integrate ZELTIQ’s best-in-class body contouring business with their facial aesthetics, plastic surgery and regenerative medicine business. Body contouring is a $4 billion global market opportunity for Allergen to actualize.
On news of the deal, both Allergan and ZELTIQ shares are up 0.43% and 13.46%, respectively. The deal represents a 14.4% premium on ZELTIQ’s Friday closing price of $49.40.
On news of the acquisition, CEO of ZELTIQ, Mark Foley, stated, “Allergan's world-class medical aesthetics products, global footprint, history and commitment to developing best-in-class aesthetic treatments makes the Company ideally suited to realize the maximum commercial potential of the ZELTIQ controlled-cooling technology platform”.
The acquisition of ZELTIQ is the latest of Allergan’s deal making. Allergan attempted to acquire Pfizer (PFE - Free Report) in 2016 for $160 billion. The deal died in early April due to the Obama administration tightening policy to prevent U.S. corporations from moving their tax headquarters overseas as Allergan is headquartered in Ireland and Pfizer in New York.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>