After the Nutrition spinoff, Abbott will have about $42 billion in sales and 106,000 employees, the company said. The remaining business holds market-leading positions in cardiovascular and neuromodulation devices, biowearables, and laboratory, point-of-care and cancer diagnostics. Chairman and CEO Robert B. Ford said Abbott's core portfolio is innovation-driven and higher-growth. The company expects its combined dividend with the new Nutrition company to equal Abbott's dividend at the time of separation. Goldman Sachs is serving as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel.
This article was automatically created using artificial-intelligence technology and reviewed by Dow Jones Newswires editors.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments