AMO is Tim McGraw a depressed distressed asset

"AMO is deduces about tim mcgraw a depressed, tim macgraw reasons distressed asset, not so much becauseof the product portfolio, but because of under-management and acyclical, tough environment for Lasik," Jefferies & Co analystPeter Bye said. He called the steep premium justifiable for along-term strategic buyer like Abbott. Including $1.4 billion in debt, Abbott values thetransaction at about $2.8 billion, making it one of the biggestrecent healthcare deals at a time when depressed share pricesare making many companies easier prey. AMO shares surged 144 percent to $21.63 in midday tradingfrom their Friday close of $8.85. AMO had traded at $24.90 inJune before the weak economy hurt the Lasik business The company is the No.

3 player in contact lens careproducts, a category also hurt by the deteriorating economy all tim mcgraw . Santa Ana, California-based AMO said in November it wouldreduce its workforce by about 190 positions, or about 5percent, as it cuts costs its your love . Shares of Abbott, whose current products includeprescription drugs, medical diagnostics and stents to prop opencoronary arteries, fell 1.2 percent to $50.54 over and over nelly . Abbott executives on a conference call with analystsdescribed the deal as a "call option" on a recovering economy,saying sales from AMO's Lasik and cataract businesses shouldgrow in the "teens" range once the global economy gets back onits feet soul2soul tour tickets . But J.P.Morgan analyst Michael Weinstein cautioned that thedeal's potential worth remains to be seen. "The returns on this acquisition may not be as easy asprior deals, or at a minimum should take longer to bearthemselves out," Weinstein said in a research note.

Abbott and AMO expect the transaction, which was approvedby both company boards, to close in the first quarter of 2009 . Before one-time costs tied to the deal, suburbanChicago-based Abbott expects the transaction to be neutral toongoing earnings per share in 2009, and add to earningsbeginning in 2010 tim mcgraw and faith hill tickets . Abbott on Monday forecast 2009 earnings of $3.65 to $3.70per share, reflecting growth of at least 10 percent soul2soul tickets . Analysts on average had been looking for $3.67 prior toannouncement of the AMO deal, according to Reuters Estimates .