Allergan signage at the NYSE

Brendan McDermid | Reuters

AbbVie is close to a deal to buy Allergan for more than $60 billion, The Wall Street Journal reported Tuesday. An announcement is expected later in the day

The agreement is expected to be worth $188 a share in cash and stock, according to the report. At that price, it would represent a 45% premium above Allergan’s Monday closing price of $129.57.

Allergan’s shares soared more than 33% in premarket trading following the report. Shares of AbbVie were down more than 5%.

Read the complete Journal report here.

This story is developing. Please check back for updates.

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