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Abbott to close acquisition of St. Jude Medical on Jan. 4, 2017

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Abbott to close acquisition of St. Jude Medical on Jan. 4, 2017

Abbott Laboratories plans to close its $25 billion acquisition of St. Jude Medical Inc. on Jan. 4, 2017.

The company has received all necessary regulatory approvals for the deal.

The acquisition is expected to be accretive to Abbott's adjusted EPS in the first full year and will increase after that, with about 21 cents of accretion in 2017 and an estimated 29 cents in 2018. It is also expected to result in annual pre-tax synergies of $500 million by 2020, including both sales and operational benefits.

The companies' combined cardiovascular and neuromodulation portfolio has annual sales of about $8.7 billion.