WASHINGTON (dpa-AFX) - After rising sharply at the start of trading, shares of St. Jude Medical (STJ) continue to turn in a strong performance in afternoon trading on Thursday. St. Jude is currently up by 27 percent after reaching a nine-month intraday high.
The rally by St. Jude comes after the medical device maker agreed to be acquired by Abbott Labs (ABT) for $25 billion in cash and stock. The deal values St. Jude stock at $85 per share.
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