AbbVie to acquire ImmunoGen for $31.26/share ($10.1B total) – adds ovarian cancer therapy ELAHERE

AbbVie Inc.

Transaction valued at $31.26 per share in cash, total equity value approx $10.1B.
Premium of ~95% to ImmunoGen's closing price on Nov 29, 2023.
Expected to close mid-2024; negatively impact 2024 EPS by ~$0.13, 2025 by ~$0.16, accretive from 2027.
Key asset: ELAHERE, a first-in-class ADC approved for platinum-resistant ovarian cancer.

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