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Actionable news in ABT: ABBOTT LABORATORIES,

More Squawk From Jim Cramer: ‘Don’t Sell Abbott, Buy It’

NEW YORK (TheStreet) -- Abbott Laboratories (ABT - Get Report) stock is retreating 5.90% to $41.24 in late morning trading on Thursday after the pharmaceutical company agreed to acquire St. Jude Medical (STJ), a medical devices manufacturer, in a stock and cash transaction valued at $25 billion.

"You don't sell Abbott, you buy it," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning, calling the acquisition a "smart combination."

"Everything that's moving our markets down is positive," Cramer observed. "This market is upside down today."

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