Abbott recommends rejection of below-market mini-tender offer by Baker Mills
Abbott received notice of an unsolicited mini-tender offer by Baker Mills to purchase up to 60,000 Abbott common shares, representing approximately 0.003% of the company's outstanding shares. Baker Mills' offer price of $57.00 per share in cash is approximately 22% lower than the $72.79 closing price of Abbott common shares on Nov. 9. Abbott does not recommend or endorse Baker Mills' unsolicited below-market mini-tender offer and recommends that shareholders not tender their shares. Abbott is not affiliated or associated in any way with Baker Mills, its mini-tender offer or the mini-tender offer documentation. Abbott recommends that shareholders who have not responded to Baker Mills' offer take no action and that shareholders who have already tendered their shares withdraw those shares. Baker Mills has made similar below-market mini-tender offers for other companies' shares.