Abbott Laboratories will announce on Monday the €4.5bn ($6.6bn) acquisition of Solvay’s pharmaceutical company, ending a five-month takeover battle. The US drugmaker beat UCB of Belgium and Nycomed of Switzerland to buy the Solvay unit, which is valued at €4.5bn. Solvac, Solvay’s largest controlling shareholder that holds the Solvay family’s 30% stake, is understood to have approved the sale of the company’s pharma business, which began in April.

This entry was posted by Gwen Robinson on Monday, September 28th, 2009 at 4:59 and is filed under Capital markets, M&A. Tagged with Abbott Laboratories, Solvay. Edit this entry.