Tech Company M&A Transactions
TheraSense Acquisition
On 1/13/2004, TheraSense was purchased by Abbott Laboratories. Abbott Laboratories said the transaction price was $1.2 billion.
Transaction Overview
Company Name
Acquired By
Announced On
1/13/2004
Transaction Type
M&A
Amount
$1,200,000,000
M&A Terms
Under the terms of the agreement, Abbott will acquire all of the outstanding stock of TheraSense for $1.2 billion, net of cash currently held by TheraSense. Excluding one-time charges, the acquisition will result in an approximately one-cent reduction in earnings per share in 2004, and is expected to be accretive thereafter. The transaction is expected to result in one-time charges in the second quarter, primarily for in-process research and development, and throughout 2004 for integration expenses. The transaction is subject to: approval by holders of a majority of TheraSense common stock at a special meeting of stockholders; regulatory approvals; and customary closing conditions. Closing is expected during the second quarter of 2004.
Company Information
Company Status
Acquired or Merged
Industry
Medical Devices & Instruments
Mailing Address
1360 South Loop Road
Alameda, CA 94502
USA
Alameda, CA 94502
USA
Phone
Website
Email Address
Not Recorded
Overview
TheraSense develops, manufactures and sells easy to use glucose monitoring systems designed to reduce the pain of testing for people with diabetes
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Mark Lortz
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