Abbott denies report of St. Jude takeover

• Abbott Laboratories (NYSE:ABT) has denied a report that it's preparing an offer for St. Jude Medical (NYSE:STJ) that would value the medical device maker at about $25B.
• St. Jude shares have now pared back their gains in early trading after surging 17% on the rumor.
• STJ +4.9% premarket
• Previously: FT: Abbott prepping $25B takeover offer for St. Jude (Aug. 27 2015)