Abbott, St. Jude Announce $25B Merger Of Cardiovascular Medical Device Businesses

(April 28, 2016, 12:50 PM EDT) -- Cardiovascular medical device makers Abbott Laboratories and St. Jude Medical Inc. announced April 28 that they have agreed to a $25 billion merger.

Under the agreement, St. Jude shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock for each share of St. Jude stock.

The companies said that with St. Jude’s strong positions in heart failure devices, atrial fibrillation and cardiac rhythm management and Abbott’s “leading” positions in coronary intervention and transcatheter mitral valve repair, the combined company will hold No. 1...
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