Abbott Agrees to Purchase Chile’s CFR Pharmaceuticals

Abbott Laboratories, the largest maker of heart stents and adult nutritional beverages, joined the dealmaking sweeping the health-care industry with a $2.9 billion agreement to acquire Chile’s CFR Pharmaceuticals SA.

Abbott will buy Kalo Pharma Internacional S.L., the holding company that indirectly owns 73 percent of CFR, and conduct a cash tender offer for the remaining shares outstanding, the Abbott Park, Illinois-based drugmaker said in a statement today. The equity value of the deal is about 53 percent more than CFR’s value of 1.05 trillion pesos ($1.89 billion), based on yesterday’s closing price. The offer is about 35 cents a share, the companies said.