SEARL refutes acquisition rumors of Abbott Laboratories stake

By MG News | Category Equity | October 17, 2024 at 02:57 PM GMT+05:00

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October 17, 2024 (MLN): The Searle Company Limited (PSX: SEARL) has officially denied circulating rumours regarding its interest in acquiring a 51% stake in Abbott Laboratories, the company's filing on PSX revealed today.

Recent claims, primarily circulated through social media and messaging platforms, suggested that Searle was engaged in talks to acquire the majority stake in Abbott.

In a statement, Searle firmly rejected these allegations, clarifying that no discussions, negotiations, or interests have been expressed by the company towards any stake acquisition in Abbott Laboratories.

The company urged the public and its stakeholders to rely solely on official announcements made via the Pakistan Stock Exchange (PSX) or other authorized channels for any material updates.

Should any significant developments occur, Searle assured that it would communicate them under legal requirements through the appropriate regulatory bodies.

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