Abbott plans CFR takeover

Abbott plans CFR takeover

M&A

Global healthcare firm Abbott Laboratories has agreed to buy three-quarters of Chilean pharmaceutical company CFR, and plans to launch a public offer for full ownership, in a $2.9bn deal announced on Friday. Abbott will buy around 72.62% of CFR’s shares directly from the controlling shareholder, and will launch a public offer for the remainder at $0.3465 each. If all the shares are tendered, Abbott would spend $2.9bn on the deal, and take on $430m of debt. CFR’s shares rallied 46% on the Santiag

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