Abbott Laboratories to Acquire Veropharm (ABT)

After an M&A packed morning, Abbott Labs (ABT) announced on Monday afternoon that it is acquiring Russian Pharmaceutical company Veropharm.

The definitive agreement will see Abbott Labs acquire Limited Liability Company Garden Hills, which has a controlling interest in Veropharm. The price of the sale will be between $395 million and $495 million, depending on how much of Veropharm Garden Hills owns at the time. Garden Hills currently owns 80% of Veropharm, but is expected to own 95% by the time the deal closes. The deal is expected to close in the fourth quarter. In May, Abbott Labs announced that it was acquiring CFR Pharma for $3.3 billion.

Abbott stocks ended the day down 12 cents, or 0.29%, but were climbing slightly higher in after hours trading. YTD, the company’s stock is up 6.85%.

ABT Dividend Snapshot

As of Market Close on June 23, 2014

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