St. Jude Medical (STJ) Shareholders Approve Abbott (ABT) Merger
- Dollar lower, stocks flat as caution creeps in ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
St. Jude Medical, Inc. (NYSE: STJ) announced that, based on the preliminary voting results from St. Jude Medical’s Annual Meeting of Shareholders held earlier today, St. Jude Medical shareholders approved the merger agreement under which Abbott (NYSE: ABT) will acquire St. Jude Medical.
Based on preliminary vote results, approximately 99 percent of voting St. Jude Medical shareholders cast their vote in favor of the merger, representing approximately 74 percent of St. Jude Medical’s outstanding stock as of the record date. The final vote results, including the other proposals’ results, will be available on a Form 8-K that St. Jude Medical plans to file with the Securities and Exchange Commission later this week.
Michael T. Rousseau, St. Jude Medical President and Chief Executive Officer, commented, “Today our shareholders voted overwhelmingly in favor of the merger with Abbott. This acquisition brings together two industry leaders with a shared passion for patients, innovation, and culture. The combined organization will create one of the world’s premier medical device companies and will provide customers a broad portfolio of products across cardiovascular diseases, chronic pain and movement disorders.”
The companies continue to expect the transaction to close by the end of the year, subject to regulatory approvals and satisfaction of customary closing conditions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wix.com (WIX) to Acquire flok
- Accenture (ACN) to Acquire Seabury Group's Corporate Advisory and Aviation Consulting Business; Terms Not Disclosed
- Asta Funding, Inc. (ASFI) Commences 5.3M Share Tender Offer for Its Common Stock
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesTwitter, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!