Drug Maker Abbott Purchases Advanced Medical Optics

Washington (dbTechno) - Drug maker Abbott Laboratories has announced that they are purchasing Advanced Medical Optics.

Abbott Laboratories will purchase the company for $22-per share, which is more than double the closing price for Advanced Medical Optics last Friday.

in total, the deal is worth a whopping $2.8 billion, which includes the $1.36 billion being paid out by Abbott, and the debt that they will take on.

The boards of both companies have already given their approval of the deal.

The deal is expected to close officially in the first quarter, and will have no impact on the earnings for Abbott in 2009.

Advanced Medical Optics is known for its eye care products, as well as laser vision surgery.

Abbott hopes to expand this aspect of their company a great deal in the future.