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Abbott to Buy St. Jude Medical in Deal Valued at About $25 Billion

from Bloomberg

Abbott Laboratories agreed to buy heart-device maker St. Jude Medical Inc. for $25 billion, its biggest ever acquisition as the industry consolidates to gain bargaining power with hospitals. St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock, representing a total of approximately $85 per share, according to a statement. more

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