Antitrust regulators in the European Union have granted conditional approval for the $25 billion merger of Abbott and St. Jude Medical.

The deal requires the exchange of a pair of device lines: St. Jude must give up its Angio-Seal and Femoseal vascular closure assets, including a manufacturing plant in Puerto Rico and Abbott must give up the Vado steerable sheath it bought with the acquisition of Kalila Medical.

Abbott plans to pay for the deal with cash on hand and a $15.1 billion debt offering. — Cynthia Jessup