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Advanced Medical Optics (EYE) Purchase Might Create an Abbott (ABT) Buying Opportunity
Jan 12, 2009 05:50 PM UTC

stevepatterson

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Via FastSwings.com - Steve Patterson:

Advanced Medical Optics (EYE) Purchase Might Create an Abbott (ABT) Buying Opportunity

Reports came out this morning that Abbott Laboratories was purchasing Advanced Medical Optics for $2.8 Billion or $22 a share in cash and assumed debt. Advanced Medical Optics is a California based eye-care device maker with revenues of $1.2 Billion a year and earnings per share of 38 cents. Best known for it's Laser Eye technologies, the company's stock price has declined near 56% over the past 52 week. The purchase price represents more than a doubling of the previous trading day's price.

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