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Home Industry News Abbott states it will repurchase AMO shares

Abbott states it will repurchase AMO shares

2nd March 2009

Abbott has announced that anyone who owns shares of Advanced Medical Optics – now called Abbott Medical Optics (AMO) ? has the right to sell them back.

On February 26th 2009, AMO became a direct wholly-owned subsidiary of Abbott and in accordance with the merger’s term and conditions, each holder of the convertible notes has the right to require AMO to repurchase all such stocks.

It will buy back the shares in cash at a price equal to 100 per cent of the principle amount they were bought for, plus accrued and unpaid interest.

The opportunity to surrender the convertible notes began on February 27th 2009 and will end March 29th 2009, unless the expiration time is extended.

Shareholders who wish to take advantage of this must complete a repurchase notice and the convertible notes must be delivers to the paying agent to by the termination date.

Earlier this month, Abbott stated that the acquisition of AMO enhanced and strengthened its “diverse mix of medical device businesses and gives it a leadership position in the large and growing eye care market”.

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