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Abbott offers EU concessions over $25 billion St. Jude deal
Nov. 03, 2016 11:31AM PST
Biotech InvestingReuters reported that Abbott Laboratories (NYSE:ABT) has offered concessions for its $25 billion bid for St. Jude Medical (NYSE:STJ). As quoted in the article: The move pushed back the European Commission’s decision on the deal to Nov. 21 from Nov. 9, according to a filing on the EU competition enforcer’s website on Thursday. It did …
Reuters reported that Abbott Laboratories (NYSE:ABT) has offered concessions for its $25 billion bid for St. Jude Medical (NYSE:STJ).
As quoted in the article:
The move pushed back the European Commission’s decision on the deal to Nov. 21 from Nov. 9, according to a filing on the EU competition enforcer’s website on Thursday. It did not provide details.
The Commission can either accept the offer, demand more or open an investigation which can take up to five months.
Abbott and St Jude last month announced the sale of some of their medical devices worth about $1.12 billion to Japanese company Terumo Corp (4543.T) as part of their deal.