Abbott Labs Splits In Bid To Drive Growth

Law360, New York (October 19, 2011, 1:46 PM EDT) -- Abbott Laboratories will split into two publicly traded companies that will respectively focus on research-based pharmaceuticals and diversified medical products, including generic drugs, to boost growth and stock returns, the company announced Wednesday.

The Chicago-based company said it would implement the split — which follows similar moves by companies such as Kraft Foods Inc. — through a tax-free distribution to Abbott shareholders of stock in the new pharmaceutical company, adding that the two companies will each pay a dividend that, when combined, will equal the current...
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