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Abbott wins FTC OK for $25B takeover of St. Jude Medical
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Abbott wins FTC OK for $25B takeover of St. Jude MedicalAbbott has won FTC approval to acquire St. Jude Medical Inc. | File PhotoAbbott Laboratories' $25 billion deal for St. Jude Medical received regulatory approval Tuesday.Abbott and St. Jude Medical, a maker of medical devices, agreed in October sell two product lines to win approval from the Federal Trade Commission.The companies will sell the product lines to Terumo Corp. for about $1.12 billion.
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Abbott gets U.S. antitrust approval to buy St. Jude Medical
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Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange, December 10, 2012.REUTERS/Brendan McDermidWASHINGTON Healthcare company Abbott Laboratories (ABT.N) has won U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical Inc (STJ.N), the U.S. Federal Trade Commission said on Tuesday.Abbott agreed to divest two medical devices used in cardiovascular procedures to resolve FTC concerns the acquisition would stifle competition, the commission said in a statement.
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FTC Places Conditions on Abbott (ABT) Acquisition of St. Jude Medical (STJ)
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(Updated - December 27, 2016 2:15 PM EST)U.S.-based global healthcare company Abbott Laboratories (NYSE: ABT) has agreed to divest two medical device businesses to settle FTC charges that its proposed $25 billion acquisition of St. Jude Medical, Inc. (NYSE: STJ) would likely be anticompetitive.The FTC's complaint alleges that without a remedy, the proposed acquisition would harm competition in the U.S. markets for vascular closure devices, which are used to close holes in arteries from the insertion of catheters, and for "steerable" sheaths, which are used to guide catheters for treating heart arrhythmias.Without a remedy, the merger will cause significant harm to competition in these two markets.
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