Notable Mergers and Acquisitions of the Day 1/12: ABT/EYE, ALDN, STZ

January 12, 2009 10:08 AM EST

• Abbott Labs (NYSE: ABT) affirmed its FY08 EPS guidance of $3.31-$3.33, ex-items, versus the consensus of $3.32. For FY09, Abbott sees EPS of $3.65-$3.70, versus the Street estimate of $3.66.
  
  Separately, Abbott announced today a definitive agreement for Abbott to acquire Advanced Medical Optics Inc. (NYSE: EYE) for $22 per share in cash, for a total transaction value of approximately $2.8 billion, inclusive of estimated net debt at the time of closing. Based in Santa Ana, Calif., AMO is a global leader in ophthalmic care, comprised of three segments: cataract surgery, laser vision correction (LASIK), and eye care products. Globally, AMO holds the number one position in LASIK surgical devices, the number two position in the cataract surgical device market and the number three position in contact lens care products.
  
  Under the terms of the agreement, Abbott will commence a tender offer by Jan. 26, 2009, to purchase all outstanding shares of AMO at $22 per share. The tender offer is conditioned on the tender of a majority of the outstanding shares of AMO's common stock on a fully diluted basis. The $2.8 billion estimated value of the transaction is based on AMO's approximately 62 million fully diluted shares outstanding, plus estimated net debt at the time of closing. The Boards of Directors of AMO and Abbott have approved the transaction.
  
  Abbott expects the transaction to be neutral to ongoing EPS in 2009, and accretive beginning in 2010, both before one-time transaction-related costs, which will be provided at a later date.
  
  
• Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) entered into a definitive merger agreement to be acquired by an investor group lead by Vector Capital, a leading private equity firm specializing in the technology industry, in a transaction valued at approximately $160 million.
  
  Under the terms of the agreement, Aladdin shareholders will receive $11.50 per share in cash for each share of common stock they hold. This represents a premium of approximately 20% over Aladdin's closing share price on January 9, 2009, the last trading day prior to today's announcement.
  
  
• Constellation Brands, Inc. (NYSE: STZ) announced it has entered into an agreement to sell its value spirits business to New Orleans-based Sazerac Company, Inc. for $334 million, subject to closing adjustments.
  
  Spirits brands the company is retaining include SVEDKA Vodka, Black Velvet Canadian Whisky and Paul Masson Grande Amber Brandy.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Notable Mergers and Acquisitions

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?