Allergan to spend $2.48 B on CoolSculpting provider Zeltiq

Botox-maker Allergan is spending about $2.48 billion to buy Zeltiq Aesthetics and its CoolSculpting system for reducing fat.

Allergan PLC says it will pay $56.50 for each share of Zeltiq in a deal it expects to close in the second half of this year. That represents a 14 percent premium to Zeltiq's $49.40 closing price Friday. The company's shares jumped nearly 13 percent early Monday.

Allergan, based in Dublin, says the deal will strengthen an aesthetics business that already includes plastic surgery and regenerative treatments.

Zeltiq's non-surgical system cools fat cells to trigger their controlled elimination without affecting the surrounding tissue, according to Allergan Plc.

Shares of Zeltiq Aesthetics Inc., based in Pleasanton, California, rose $6.32, to $55.72 in premarket trading.

This story has been automatically published from the Associated Press wire which uses US spellings

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter


© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production bpcf02 at 29 Mar 2017 16:53:44 Processing Time: 326ms