Friday, April 29, 2016

Abbott Labs Is Buying St. Jude Medical for $25 Billion



Abbott Labs Is Buying St. Jude Medical for $25 Billion
by Reuters
April 28, 2016, 7:44 AM EDT
The deal comes with a high premium.

Abbott Laboratories ABT -2.92% said it agreed to buy medical device maker St. Jude Medical STJ -1.38% for $25 billion to add heft to its heart and neurological devices business.

St. Jude shareholders will receive $46.75 in cash and 0.8708 Abbott shares, representing a total consideration of about $85 per share.

The offer represents a 37% premium to St. Jude’s Wednesday closing. St. Jude’s shares were up about 27% premarket on Thursday.

Abbott will assume or refinance St. Jude’s net debt of about $5.7 billion.

The deal will add to Abbott’s adjusted earnings per share in the first full year after the close of the transaction, the company said. It will add 21 cents per share in 2017 and 29 cents in 2018.
Abbott’s cardiovascular device unit will have annual sales of $8.7 billion after the business are combined.

St. Jude Medical
Sidley Austin LLP was the lobby firm for St. Jude Medical Inc., and St. Jude Children's Research Hospital.

Note: Michelle Obama was a lawyer at Sidley Austin LLP.
Barack Obama was an intern at Sidley Austin LLP.           
Newton N. Minow is a senior counsel at Sidley Austin LLP, and a member of the Commercial Club of Chicago.
R. Eden Martin is counsel at Sidley Austin LLP, and the president of the Commercial Club of Chicago.    
Commercial Club of Chicago, Members Directory A-Z (Past Research)
Tuesday, December 17, 2013       
Sally Blount is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
W. James Farrell is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Edward M. Liddy is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
William A. Osborn is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Samuel C. Scott III is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Glenn F. Tilton is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Miles D. White is a member of the Commercial Club of Chicago, and the chairman & CEO for Abbott Laboratories.
Christopher B. Begley is a member of the Commercial Club of Chicago, and was the SVP for Abbott Laboratories.
Jack M. Greenberg is a member of the Commercial Club of Chicago, and was a director at Abbott Laboratories.
Robert L. Parkinson Jr. is a member of the Commercial Club of Chicago, and was the president & COO for Abbott Laboratories.
William D. Smithburg is a member of the Commercial Club of Chicago, and was a director at Abbott Laboratories.
William M. Daley is a member of the Commercial Club of Chicago, was a director at Abbott Laboratories, and the chief of staff for the Barack Obama administration.
Barack Obama is the president for the Barack Obama administration, and was an intern at Sidley Austin LLP.
Sidley Austin LLP was the lobby firm for St. Jude Medical Inc., and St. Jude Children's Research Hospital.
Alston & Bird is the lobby firm for St. Jude Children's Research Hospital, and was the lobby firm for Abbott Laboratories.
Tom Daschle was a special policy adviser at Alston & Bird, a nominee for health and human services secretary for the Barack Obama administration, is the chairman for the Center for American Progress, and a 2008 Bilderberg conference participant (think tank).     
Open Society Foundations was a funder for the Center for American Progress.
George Soros is the founder & chairman for the Open Society Foundations, was the chairman for the Foundation to Promote Open Society, and a supporter for the Center for American Progress.
Foundation to Promote Open Society was a funder for the Center for American Progress.
Ezekiel Emanuel is a senior fellow at the Center for American Progress, Ari Emanuel & Rahm I. Emanuel’s brother, and a founding chair of the Department of Bioethics for the National Institutes of Health.
National Heart, Lung and Blood Institute is a division of the National Institutes of Health.
James R. Gavin III was a staff associate for the National Institutes of Health, and is a director at Baxter International Inc.
Thomas F. Chen is a director at Baxter International Inc., and was the SVP for Abbott Laboratories.
Robert L. Parkinson Jr. is the chairman & CEO for Baxter International Inc., a member of the Commercial Club of Chicago, and was the president & COO for Abbott Laboratories.
Ari Emanuel is Ezekiel Emanuel & Rahm I. Emanuel’s brother, and the co-CEO & director for William Morris Endeavor Entertainment.
Ray Romano is a William Morris Endeavor Entertainment client, and was the spokesperson for St. Jude Children's Research Hospital.
Sidley Austin LLP was the lobby firm for St. Jude Children's Research Hospital, and St. Jude Medical Inc.
Michelle Obama was a lawyer at Sidley Austin LLP.
Barack Obama was an intern at Sidley Austin LLP, and is the president for the Barack Obama administration.
Newton N. Minow is a senior counsel at Sidley Austin LLP, and a member of the Commercial Club of Chicago.
R. Eden Martin is counsel at Sidley Austin LLP, and the president of the Commercial Club of Chicago.    
Rahm I. Emanuel is a member of the Commercial Club of Chicago, the Chicago (IL) mayor, Ezekiel Emanuel & Ari Emanuel’s brother, and was the White House chief of staff for the Barack Obama administration.  
Sally Blount is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
W. James Farrell is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Edward M. Liddy is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
William A. Osborn is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Samuel C. Scott III is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Glenn F. Tilton is a member of the Commercial Club of Chicago, and a director at Abbott Laboratories.
Miles D. White is a member of the Commercial Club of Chicago, and the chairman & CEO for Abbott Laboratories.
Christopher B. Begley is a member of the Commercial Club of Chicago, and was the SVP for Abbott Laboratories.
Jack M. Greenberg is a member of the Commercial Club of Chicago, and was a director at Abbott Laboratories.
Robert L. Parkinson Jr. is a member of the Commercial Club of Chicago, and was the president & COO for Abbott Laboratories.
William D. Smithburg is a member of the Commercial Club of Chicago, and was a director at Abbott Laboratories.
William M. Daley is a member of the Commercial Club of Chicago, was a director at Abbott Laboratories, and the chief of staff for the Barack Obama administration.

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