Abbott granted authorisation for AMO merger

Abbott has been granted authorisation for the takeover of Advanced Medical Optics (AMO).

The European Commission passed merger control clearance for the healthcare company to go ahead with the acquisition of the firm without conditions.

Now, Abbott will be able to offer the outstanding shares of common stock from AMO through cash tender. As announced on January 27th 2009, it will purchase each share for 22 dollars (15.18 pounds).

The offer was deemed to satisfy the terms of the commission’s regulatory guidelines.

AMO focuses on providing advanced refractive technologies and support to eye care professionals.

In related news, Abbott announced this week that it will increase the company’s quarterly dividend by 11 per cent. It is the 37th year the company has paid out these cash bonuses to shareholders.

The firm employs around 68,000 staff worldwide and part of its devotion is to developing laboratory diagnostics through medical devices.

Within the range of goods it produces includes animal health, diabetes care, vascular and molecular products.