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Abbott Laboratories
Point-of-care diagnostics company acquired by pharmaceutical firm
January 14th, 2004
Abbott Laboratories (ABT) and i-STAT Corporation (STAT) announced that the companies have entered into an agreement and plan of merger for Abbott to acquire all of the issued and outstanding stock of i-STAT, a manufacturer of point-of-care diagnostic systems for blood analysis. Under the terms of the agreement, Abbott will acquire the shares of i-STAT it does not already own for $15.35 per share. The acquisition is structured as a cash tender offer for all of the issued and outstanding shares of i-STAT. The net transaction value is approximately $392 million. The tender offer is expected to be completed by February 2004, subject to regulatory approvals and customary...
Source: Biotech Week (2004-01-14)
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