Deals
Abbott Spinoff AbbVie Begins Trading to Determine Value
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Abbott Laboratories’ spinoff began trading on a “when issued” basis, with investors valuing the new Abbott at $47.9 billion and the new drug company AbbVie Inc. at $55.3 billion.
The when-issued trading will set stock prices and values for the two companies when they officially split on Jan 1. Abbott when-issued shares, which are trading under the ticker ABT-W, began trading at $29.05 and rose 4.3 percent to $30.30 at 4 p.m. New York time. AbbVie when-issued shares, trading under the ticker ABBV-W, opened at $37 and fell 5.4 percent to $35.