Abbott is looking to buy St. Jude's for $25 billion. The Abbott Park, IL-based healthcare company is hoping to expand its heart device business in the deal first proposed in April, Reuters reports.
The FTC said recently that it would be requesting additional information from both entities about the deal.
The waiting period, the time window required by the Hart-Scott-Rodino Antitrust Improvement Act before companies can close on a deal, has also been extended by 30 days due to the request.
Abbott Labs stock closed up 0.83% at $42.41 and St. Jude's stock closed up 0.26% to $80.88 yesterday.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
However, TheStreet Ratings also finds weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: ABT
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.