Facet Biotech Skyrockets on Acquisition by Abbott Labs (FACT,ABT)
Wednesday, March 10, 2010 - 11:12
Written on Wed, 03/10/2010 - 11:12am
By Chip Brian

3/10/2010-Shares of Facet Biotech Corp.　(NASDAQ:FACT) are trading 66.2% higher to $26.94 Wednesday after Abbott Laboratories (NYSE:ABT) agreed to buy the biotechnology company for $27 a share, for a net transaction value of about $450 million, enhancing Abbott's early and mid stage pharmaceutical pipeline.
The transaction is expected to close in the second quarter of 2010.

Keywords: nadaq:fact Facet biotech Abbott acquisition Stock smartrend

Ticker(s): FACT ABT

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