Abbott completes $2.8 billion acquisition of Advanced Medical Optics

By Lisa Kerner

Charlotte, N.C., Feb. 26 - Abbott Laboratories completed its acquisition of Advanced Medical Optics Inc. through a short-form merger, making the company a wholly owned Abbott subsidiary known as Advanced Medical Optics Inc.

All outstanding shares of Advanced Medical Optics not tendered in Abbott's offer were converted into the right to receive $22 per share in cash, Abbott said.

"This acquisition provides Abbott access to a $22 billion global market and the opportunity to help a very large patient population," John M. Capek, executive vice president, medical devices, Abbott, said in a news release.

On Jan. 12, Abbott announced it would acquire Advanced Medical Optics for $22 per share, or a total of $2.8 billion including net debt.

Santa Ana, Calif.-based Advanced Medical Optics operates in three segments: cataract surgery, Lasik and eye-care products.

Abbott is a biopharmaceutical company located in Abbott Park, Ill.

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