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May 16 (Reuters) - Abbott Laboratories said it would acquire Latin American pharmaceutical company CFR Pharmaceuticals, which would more than double its branded generic drugs portfolio and expand its presence in Latin America.
Abbott said it would buy the holding company that indirectly owns about 73 percent of Santiago, Chile-based CFR and would conduct a tender offer for the remaining shares.
The company said if all publicly-held shares were tendered, the total purchase price was expected to be about $2.9 billion, plus the assumption of about $430 million in debt. (Reporting by Esha Dey in Bangalore; Editing by Savio D'Souza)