Abbott to Acquire St. Jude Medical for $25 Billion
On April 28, 2016, global healthcare company Abbott and global medical device manufacturer St. Jude Medical announced that they have entered into a definitive agreement under which Abbott has agreed to acquire St. Jude Medical in a cash-and-stock transaction valued at $25 billion. WSGR is representing Abbott's financial advisor, Evercore, in the transaction.
The deal will create a premier medical device leader with top positions in the high-growth cardiovascular and neuromodulation markets. The transaction has been approved by the boards of directors of St. Jude Medical and Abbott, and is subject to the approval of St. Jude Medical shareholders and the satisfaction of customary closing conditions, including specified regulatory approvals. It is expected to close in the fourth quarter of 2016.
For more information, please see the companies' joint press release.