Robbins Arroyo LLP: Acquisition of St. Jude Medical, Inc. (STJ) by Abbott Laboratories (ABT) May Not Be in Shareholders' Best...
April 28 2016 - 3:42PM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of St. Jude Medical, Inc.
(NYSE: STJ) by Abbott Laboratories (NYSE: ABT). On April 28, 2016,
the two companies announced the signing of a definitive merger
agreement pursuant to which Abbott will acquire St. Jude Medical.
Under the terms of the agreement St. Jude Medical shareholders will
receive $46.75 in cash and 0.8708 shares of Abbott common stock,
the value of which is equivalent to $85.00 for each share of St.
Jude Medical common stock.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/st-jude-medical-inc-april-2016
Is the Proposed Acquisition Best for St. Jude Medical and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at St. Jude Medical is undertaking a fair process to
obtain maximum value and adequately compensate its
shareholders.
On April 20, 2016, St. Jude Medical reported strong earnings
results for its first quarter 2016. St. Jude Medical reported net
sales of $1.45 billion for the three months ended April 4, 2016, an
8% increase from the same period of the prior year. Additionally,
St. Jude Medical has beaten analyst estimates for adjusted earnings
per share and adjusted net income in three out of the past four
quarters. In commenting on these results, St. Jude Medical
President and Chief Executive Officer Michael T. Rousseau remarked,
"In the first quarter, we delivered sales and adjusted earnings per
share at or above the high end of our guidance. With 10 product
approvals and associated launches in key regions around the world,
we demonstrated our commitment to bringing lifesaving products to
patients while driving sales momentum in the areas of atrial
fibrillation, heart failure and neuromodulation."
In light of these facts, Robbins Arroyo LLP is examining St.
Jude Medical's board of directors' decision to sell the company now
rather than allow shareholders to continue to participate in the
company's continued success and future growth prospects.
St. Jude Medical shareholders have the option to file a class
action lawsuit to ensure the board of directors obtains the best
possible price for shareholders and the disclosure of material
information. St. Jude Medical shareholders interested in
information about their rights and potential remedies can contact
attorney Darnell R. Donahue at 800-350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form
on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160428006864/en/
Robbins Arroyo LLPDarnell R. Donahue619-525-3990 or Toll-Free
800-350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
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