Abbott Agreed to Buy St. Jude in $25 Billion Deal
April 28 2016 - 7:35AM
Dow Jones News
By George Stahl
Abbott Laboratories agreed to acquire St. Jude Medical Inc. in a
cash-and-stock deal valued at $25 billion that merges two of the
leading makers of heart-related devices.
Under the deal, Abbott agreed to swap $46.75 in cash and 0.8708
shares for each St. Jude share. The offer values each St. Jude
share at about $85, representing a 37% premium to the stock's
closing price Wednesday.
The companies said the merged entity will hold a top position in
the different heart-device markets.
Write to George Stahl at george.stahl@wsj.com
(END) Dow Jones Newswires
April 28, 2016 07:20 ET (11:20 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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