Abbott Park, Ill.-based Abbott Laboratories CEO Miles White has purchased another 1.28 million shares — worth $45.5 million — in his company's stock, according to Crain's Chicago Business.
In April, Abbott said it would acquire St. Paul, Minn.-based St. Jude Medical. Meanwhile, Abbott is also working to acquire Waltham, Mass.-based Alere. Since Abbott said it may have to issue more equity to assist in funding for the deals, investors have started to worry.
But Mr. White's most recent purchase is, perhaps, an attempt to soothe anxious investors. Mr. White now owns 2.74 million shares of Abbott stock, making him one of Abbott's top 100 shareholders, according to Bloomberg.