Abbott to absorb St. Jude Medical in $25B cardiovascular device deal
April 29, 2016
Abbott (NYSE: ABT) has agreed to acquire St. Jude Medical (NYSE: STJ) for about $25 billion, with St. Jude shareholders set to receive cash and stock considerations amounting to roughly $85 per share, a 37% premium to Wednesday's closing stock price. The combined company will manufacture medical devices primarily for the cardiovascular market. Earlier this year, Abbott agreed to the $8.4 billion purchase of Alere (NYSE: ALR), a provider of point-of-care medical tests, but that deal has encountered potential roadblocks in recent months.