SAN DIEGO & ST. PAUL, Minn.--(BUSINESS WIRE)--
Shareholder rights attorneys at Robbins Arroyo LLP are investigating
the proposed acquisition of St. Jude Medical, Inc. (NYSE: STJ) by Abbott
Laboratories (NYSE: ABT). On April 28, 2016, the two companies announced
the signing of a definitive merger agreement pursuant to which Abbott
will acquire St. Jude Medical. Under the terms of the agreement St. Jude
Medical shareholders will receive $46.75 in cash and 0.8708 shares of
Abbott common stock, the value of which is equivalent to $85.00 for each
share of St. Jude Medical common stock.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/st-jude-medical-inc-april-2016
Is the Proposed Acquisition Best for St. Jude Medical and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board of
directors at St. Jude Medical is undertaking a fair process to obtain
maximum value and adequately compensate its shareholders.
On April 20, 2016, St. Jude Medical reported strong earnings results for
its first quarter 2016. St. Jude Medical reported net sales of $1.45
billion for the three months ended April 4, 2016, an 8% increase from
the same period of the prior year. Additionally, St. Jude Medical has
beaten analyst estimates for adjusted earnings per share and adjusted
net income in three out of the past four quarters. In commenting on
these results, St. Jude Medical President and Chief Executive Officer
Michael T. Rousseau remarked, "In the first quarter, we delivered sales
and adjusted earnings per share at or above the high end of our
guidance. With 10 product approvals and associated launches in key
regions around the world, we demonstrated our commitment to bringing
lifesaving products to patients while driving sales momentum in the
areas of atrial fibrillation, heart failure and neuromodulation."
In light of these facts, Robbins Arroyo LLP is examining St. Jude
Medical's board of directors' decision to sell the company now rather
than allow shareholders to continue to participate in the company's
continued success and future growth prospects.
St. Jude Medical shareholders have the option to file a class action
lawsuit to ensure the board of directors obtains the best possible price
for shareholders and the disclosure of material information. St. Jude
Medical shareholders interested in information about their rights and
potential remedies can contact attorney Darnell R. Donahue at
800-350-6003, [email protected],
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities
litigation and shareholder rights law. The law firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits, and has helped its clients realize
more than $1 billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160428006864/en/
