CSI: Abbott Laboratories will acquire Cardiovascular Systems in deal worth $890 million

Abbott Laboratories (NYSE: ABT) has struck a deal to buy New Brighton-based medical-device maker Cardiovascular Systems Inc. (NASDAQ: CSII) in a deal worth $890 million. Abbott Park, Illinois-based Abbott, which is already a big player in the Twin Cities medical device market, announced the deal for Cardiovascular Systems late Wednesday. The company will pay $20 per share for CSI, roughly a 50% premium over the smaller company's most recent stock price. (Shares of CSI are up more than 48% in premarket...