Big pharma, Diagnostics, M&A, Pharma

Big pharma, Abbott acquires CFR Pharma for $2.9 billion

Posted on 19 May 2014

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Abbott announced a definitive agreement to acquire Latin American pharmaceutical company CFR Pharmaceuticals.

Abbott will acquire the holding company that indirectly owns approximately 73 percent of CFR Pharmaceuticals and will conduct a public cash tender offer for all of the outstanding shares of CFR.

Assuming all publicly-held shares are tendered, the total purchase price would be approximately $2.9 billion, plus the assumption of net debt of approximately $430 million.

This acquisition immediately establishes Abbott among the top 10 pharmaceutical companies in Latin America, further broadening Abbott's geographic presence across the region.

Abbott will commence a tender offer to purchase all the outstanding shares of CFR Pharmaceuticals following necessary regulatory approvals. Abbott plans to fund the transaction with cash on the balance sheet.

For further deal information visit Current Agreements (subscription required)

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