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The biopharma sector has turned into some of the deepest value stocks in the market. The Allergan (AGN) acquisition by AbbVie (ABBV) is a prime example of a deal where the involved stocks trade at insanely cheap valuations causing the merger synergies to provide a big boost to the EPS estimates despite a large cash portion of the deal. For these reasons, Allergan shareholders should hold the stock through the merger process.