Abbott Laboratories (ABT) is preparing a stock and cash offer likely of around $25 billion for St. Jude Medical Inc. (STJ), the Financial Times reported Thursday on its website, citing people familiar with the matter.

An offer from Abbott has not been make and might not materialize, the people told the newspaper.

In a statement to the Wall Street Journal, a spokesman for Abbott said the company is not pursuing a bid for St. Jude Medical.

FT website: www.ft.com

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(END) Dow Jones Newswires

August 27, 2015 10:22 ET (14:22 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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