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Allergan Bets on Aesthetics With $2.48 Billion Zeltiq Deal

  • Zeltiq makes devices that chill fat cells, eliminating them
  • Botox maker Allergan doubles down on body sculpting products
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Botox maker Allergan Plc is betting on aesthetics with the $2.48 billion acquisition of fat-chilling device maker Zeltiq Aesthetics Inc., doubling down on a lucrative industry where patients pay mostly in cash for products and services.

The purchase price is $56.50 a share in cash, the companies said Monday in a statement, a 14 percent premium to Pleasanton, California-based Zeltiq’s closing price Friday of $49.40. Through Friday, the stock had already more than doubled in the last 12 months.