Abbott's acquisition of Advanced Medical Optics clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Feb. 6 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has ended in the proposed merger of Abbott Laboratories and Advanced Medical Optics, Inc., it was announced on Friday.

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

Abbott's $22-per-share cash tender offer for Advanced Medical Optics is set to end at midnight ET on Feb. 24. The offer began on Jan. 27.

The merger remains subject to clearance by the European Commission, the tender of a majority of Advanced Medical Optics' shares in the offer and other customary closing conditions, Abbott 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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