Published August 27, 2015 7:21am EDT | Updated August 27, 2015 7:55pm EDT

St. Jude Medical Shares Surge 13% On Report Abbott Labs Prepping $25 Bln Bid

St. Jude Medical Inc. shares surged 12% in premarket trade Thursday, after the Financial Times reported that Abbott Laboratories is gearing up to make a $25 billion bid for the medical device maker, citing people familiar with the matter. The company is preparing an offer but has not yet put it forward, the paper said. Abbott Labs shares were not yet active in premarket trading.