Abbott Laboratories announces $25 billion acquisition

Company bought medical device manufacturer St Jude Medical

Abbott Laboratories, which plans to acquire St Jude Medical
Graph: expected increase in Abbott's adjusted earnings per share

Abbott Laboratories has announced the planned acquisition of medical device manufacturer St Jude Medical in a $25 billion deal.

“Bringing together these two great companies will create a premier medical device business and immediately advance Abbott’s strategic and competitive position.”

Miles D White, chairman and chief executive, Abbott