Abbott begins tender offer for Advanced Medical Optics

By Lisa Kerner

Charlotte, N.C., Jan. 26 - Abbott Laboratories said it will begin its $22-per-share cash tender offer for Advanced Medical Optics, Inc. on Tuesday.

On Jan. 12, Abbott announced it will acquire Advanced Medical Optics for $2.8 billion, including net debt.

Stockholders ValueAct Capital Master Fund, LP, ValueAct Capital Master Fund III, LP, G. Mason Morfit and James V. Mazzo entered into tender and support agreements with Abbott. The stockholders collectively own approximately 12.5% of Advanced Medical Optics' outstanding shares, an Abbott news release said.

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

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

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