Healthcare company Abbott Laboratories wins U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical. Roselle Chen reports.
Healthcare company Abbott Laboratories has the green light to buy device maker St. Jude Medical. The U.S. Federal Trade Commission approved the $25 billion acquisition after Abbott agreed to sell two cardiovascular devices to resolve concerns that the merger would stifle competition. Abbott said the deal will help it compete against larger rivals, Medtronic and Boston Scientific. The company expects to close it before the end of the year or shortly thereafter. European antitrust enforcers gave their nod in November.