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Abbott to Acquire Vysis for $355M

NEW YORK, Oct. 24 - Abbott Laboratories has agreed to acquire Vysis in a stock deal worth about $355 million in an attempt to buttress its position in the DNA-based diagnostic market, the drug giant announced on Wednesday.

Abbott will pay $30.50 per share for Vysis, which is a 33 percent premium on Vysis shares, the company said. Shares in the Downers Grove, Illinois-based company closed at $23 on the Nasdaq on Tuesday.

Vysis manufactures and markets two tests that detect certain genetic markers for breast and bladder cancer.

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