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FTC seeks more info on Abbott-St. Jude deal
July 12, 2016 / 9:30 PM / a year ago

FTC seeks more info on Abbott-St. Jude deal

(Reuters) - Abbott Laboratories and St. Jude Medical Inc said they each received a request for additional information from the U.S. Federal Trade Commission related to their deal.

The ticker and trading information for St. Jude Medical is displayed where the stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 28, 2016. REUTERS/Brendan McDermid

Abbott said in April that it would buy St. Jude in a $25 billion deal to expand its heart device business.

The request extends the waiting period - the time frame before companies can close a deal, as required by the Hart-Scott-Rodino Antitrust Improvement Act - by 30 days after the two companies have complied by providing additional information.

Reporting by Subrat Patnaik in Bengaluru; Editing by Maju Samuel

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