Abbott (ticker: ABT, exchange: New York Stock Exchange (.N))
News Release -
Abbott Laboratories Acquisition of i-STAT Corporation Receives Antitrust Clearance
ABBOTT PARK, Ill., Jan 21, 2004 /PRNewswire-FirstCall via COMTEX/ -- Abbott Laboratories
(NYSE: ABT) announced today that the initial waiting period under the Hart-
Scott-Rodino Antitrust Improvements Act applicable to Abbott's pending
acquisition of i-STAT Corporation (Nasdaq: STAT) has expired. The expiration
of the initial Hart-Scott-Rodino waiting period satisfies one of the principal
conditions to the pending acquisition.
The two companies announced on December 15, 2003, that they had entered
into a definitive agreement for Abbott to acquire i-STAT, a leading
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 common 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.
Abbott Laboratories is a global, diversified health care company devoted
to the discovery, development, manufacture and marketing of pharmaceuticals,
nutritionals, and medical products, including devices and diagnostics. The
company employs more than 70,000 people and markets its products in more than
130 countries. In 2003, the company's sales were $19.7 billion.
Abbott's news releases and other information are available on the
company's Web site at www.abbott.com .
SOURCE Abbott Laboratories
Media, Don Braakman, +1-847-937-1237, or Financial Community,
Christy Wistar, +1-847-938-4475, both of Abbott Laboratories
/Company News On-Call: http://www.prnewswire.com/comp/110328.html