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Home » Alere won’t take no for an answer | Acquisitions Roundup

Alere won’t take no for an answer | Acquisitions Roundup

September 26, 2011 By MassDevice staff

Alere

After a firm rejection of its buyout offer, Alere Inc. (NYSE:ALR) has started pleading to the sensibilities of Scottish competitor Axis-Sheild’s shareholders. This is not the first time the two firms have traded statements since Alere first offered its buyout in June.

In its latest love note, the Waltham, Mass.-based diagnostics firm emphasized the dangers for a standalone company in times of economic uncertainty and reminded shareholders that, "despite Alere’s interest in the company," no other bidders have publicly announced their interest.

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"The board has been more than willing to engage with Alere if Alere were to put a proposal to the board that fairly reflected the fundamental value of Axis-Shield," said said Axis-Shield stakeholders in a prepared statement. "To date, no such proposal has been received from Alere."

"The company believes that Alere is making a highly opportunistic offer in order to try and acquire Axis-Shield on the cheap," added Axis-share.

After being rebuffed on an unsolicited $369 million acquisition offer in June, Alere bought up nearly 2.1 million more shares of Axis-Shield stock, bringing the Waltham, Mass.-based company’s total stake to about 3.2 million shares, or about 6.4 percent of Axis-Shield. 

Here’s a roundup of companies announcing mergers, acquisitions and divestitures.

Mergers and Acquisitions
  • CellTrak acquires Canada-based MedShare
  • Opko Health to join retinal imaging company Optos
  • Integra LifeSciences completes acquisition of Ascension Orthopedics
  • AMAC ad Tunstall enter into merger
  • Sage sells its U.S. Healthcare division
  • HIMSS buys so2say

Filed Under: Mergers & Acquisitions, News Well Tagged With: Alere, Ascension Orthopedics, Axis-Shield, CellTrak, Integra LifeSciences, MedShare, Opko Health Inc., Optos Inc.

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