Robbins Arroyo LLP: Acquisition of St. Jude Medical, Inc. (STJ) by Abbott Laboratories (ABT) May Not Be in Shareholders' Best Interests

SAN DIEGO & ST. PAUL, Minn.--(BUSINESS WIRE)--

Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of St. Jude Medical, Inc. STJ by Abbott Laboratories 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, ddonahue@robbinsarroyo.com, 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.

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