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Abbott announces acquisition of CFR Pharmaceuticals

Friday, 16 May 2014 08:11am EDT 

Abbott Laboratories:To acquire Latin American pharmaceutical company CFR Pharmaceuticals.Abbott to acquire the holding company that indirectly owns about 73pct of CFR Pharmaceuticals and will conduct a public cash tender offer for all of the outstanding shares of CFR.Assuming all publicly-held shares are tendered, the total purchase price would be about $2.9 bin, plus the assumption of net debt of about $430 mln.Assuming the transaction closes as anticipated by the end of the third quarter of 2014.Barclays advised Abbott on the transaction; Deutsche Bank Securities Inc. advised CFR.