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news.Abbott has received merger control clearance from the European Commission for its acquisition of Advanced Medical Optics, or AMO, a developer of medical devices for the eye, through a cash tender offer for the outstanding shares of common stock of AMO. The European Commission approved the transaction without conditions.
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The approval satisfies the condition to the tender offer related to European Commission regulatory approval and is the last regulatory approval that is a condition to the tender offer. The tender offer is scheduled to expire on February 24, 2009, unless the tender offer is extended.
Consummation of the tender offer remains subject to other customary conditions, including the tender of a majority of the outstanding shares of AMO’s common stock on a fully diluted basis.
Abbott commenced the tender offer on January 27, 2009, for all of the outstanding shares of AMO common stock for $22 per share in cash. The tender offer is being made pursuant to an offer to purchase, dated January 27, 2009, and in connection with the agreement and plan of merger, dated January 11, 2009, entered into by and among Abbott, Rainforest Acquisition, a wholly owned subsidiary of Abbott, and AMO, which Abbott and AMO announced on January 12, 2009.