Abbott Laboratories has refuted rumors that it is trying to buy St. Jude Medical, Inc., Reuters reported Thursday morning. According to Reuters, The Financial Times ran the original article “citing people familiar with the matter” that the deal could be worth at least $25 billion.
The Star Tribune reported both companies’ stocks were boosted by the news. It also reported that a spokesperson for St. Jude would not confirm the news.
St. Jude made a deal worth $3.4 billion in cash in July to acquire Thoratec Corp., according to Bloomberg, and already has “an alliance” with Abbott “to sell their portfolio of cardiovascular products jointly to hospitals.”