A subsidiary of Abbott Laboratories, the U.S. maker of Similac baby formula and other nutritional and drug products, is purchasing a controlling stake in Chilean drugmaker CFR Pharmaceuticals for $3.33 billion, including debt.
Magic Circle firm Clifford Chance is representing Abbott, which on Friday announced that it is buying the holding company that owns 73 percent of CFR for $2.9 billion, plus the assumption of $430 million in debt. Abbott says it intends to make a public cash tender offer for the remaining shares of CFR.
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