Islamabad, Oct 17: SEARL Denies Majority Stake Acquisition in Abbott Laboratories
Abbott Laboratories’ 51 percent ownership has not piqued the attention of The Searle business Limited (PSX: SEARL), the business said on Thursday to the primary exchange.
“We vehemently refute this allegation and would like to make it clear that the Company has not discussed, engaged in negotiations, or expressed any interest in Abbot Laboratories or any potential acquisition of its stake,” the stock filing said.
“We recommend that the public and all of our esteemed stakeholders depend solely on official announcements made by the Company through the Pakistan Stock Exchange or other authorized communication channels,” the statement stated.
The statement also stated that in the event that the Company is required by law to disclose any material information, it will duly notify the Pakistan Stock Exchange and other pertinent authorities in compliance with those laws and regulations.
The primary business activity of the company is the production of consumer goods and medications. The Parent Company, International Brands (Private) Limited, is the owner of 56.32 percent of the Company’s shares.
