Abbott to close acquisition of St. Jude at the beginning of next year

Abbott announced it intends to close the acquisition of St. Jude Medical on January 4, 2017. The announcement follows receipt of all necessary clearances by regulatory authorities. The acquisition will establish Abbott as a leader in the medical device business and will provide opportunities for future growth. St. Jude Medical boasts very strong positions in areas such as atrial fibrillation and heart failure. The transaction will create a business competing for the No. 1 or 2 positions across cardiovascular device markets. (Source PRNewswire)