St. Jude Medical Withdraws FY16 Guidance Due To Merger With Abbott
WASHINGTON (dpa-AFX) - While reporting its financial results for the third quarter today, Medical device maker St. Jude Medical, Inc. (STJ) said it has withdrawn its financial guidance for fiscal 2016 due to its planned merger with Abbott Laboratories (ABT).
In April, Abbott said it has agreed to acquire St. Jude Medical. Under the agreement, St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock, representing total consideration of approximately $85 per share. This represents a total transaction equity value of $25 billion.
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