Abbott Agrees to Buy St. Jude in $25 Billion Deal
Abbott Laboratories agreed to acquire St. Jude Medical Inc. in a cash-and-stock deal valued at $25 billion that would create one 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. Shares of Abbott fell 7% to $40.60 in early trading, while St. Jude rose 25% to $77.70. The companies said the deal merges St. Jude’s strong positions in ...
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