The Federal Trade Commission said today that it approved Abbott‘s (NYSE:ABT) bid to buy Alere (NYSE:ALR) as long as the company sells two of its point-of-care medical testing businesses. Canada echoed the announcement, saying it approved the proposed deal on similar terms. The FTC reported that Abbott agreed to divest a blood gas testing system to Siemens […]
Alere
4 top medtech stories you need to know in late 2017
The U.S. government continues to create a lot of uncertainty for the medical device industry, but medtech companies are still making some big moves. The frenzy of major mergers continues, which makes sense from an investor standpoint when it comes to reducing risk. Meanwhile, companies from outside the industry – including such high-tech giants as Apple, […]
Alere to pay $13m to settle SEC accounting fraud charges
Alere (NYSE:ALR) has agreed to pay more than $13 million to settle charges claiming it committed accounting fraud through its subsidiaries, according to an SEC release posted today. The Commission said that Alere was charged with committing accounting fraud through its subsidiaries to meet revenue targets and making improper payments to foreign officials to increase sales […]
Another extension for Abbott’s tender for Alere
Abbott (NYSE:ABT) today announced yet another extension of its tender offer for all outstanding Alere (NYSE:ALR) Series B convertible perpetual preferred shares at $402 per share, pushing the deadline from Sept. 15. to near the end of the month. As part of the offering, Abbott said it will also pay for unpaid dividends to the settlement date of […]
Abbott tacks another extension on Alere tender offer
Abbott (NYSE:ABT) said last Friday it is yet again extending a tender offer for all outstanding Alere (NYSE:ALR) Series B convertible perpetual preferred stock shares at $402 per share, pushing the deadline from Aug. 31 to Sept. 15. As part of the offering, Abbott said it will also pay for unpaid dividends to the settlement date of the […]
Shareholder suit against Alere stays alive
A Massachusetts federal judge dismissed most of a securities fraud class action case against Alere (NYSE:ALR) yesterday, saying that the complaint did not support the claim that Alere senior management had prior knowledge of the company’s alleged wrongdoing. U.S. district judge Patti Saris did, however, allow one part of the complaint to move into discovery. The claim […]
Abbott extends Alere tender offer
Abbott (NYSE:ABT) said today it is extending a tender offer for all outstanding Alere (NYSE:ALR) Series B convertible perpetual preferred stock shares at $402 per share. As part of the offering, Abbott said it will also pay for unpaid dividends to the settlement date of the tender offer in cash, without interest and subject to applicable taxes. […]
Alere deals Epocal blood Dx biz to Siemens Healthineers to mollify FTC over Abbott deal
Siemens (NYSE:SI) Healthineers said today it agreed to acquire Alere‘s (NYSE:ALR) Epocal point-of-care blood diagnostic business as Alere looks to clear regulatory hurdles in its pending acquisition by Abbott (NYSE:ABT). Financial details of the acquisition were not disclosed, but the companies said that the acquisition is subject to the completion of Abbott’s purchase of Alere. Alere said the […]
Abbott launches tender offer for Alere in $5.3B merger
Abbott (NYSE:ABT) said today that it launched the tender offer for its $5.3 billion acquisition of diagnostics giant Alere (NYSE:ALR). The $402-per-share tender offer is slated to expire at midnight on August 11, Abbott said. The merger was amended in April, when Abbott agreed to pay $5.3 billion for Alere rather than the original price of $5.8 billion. Get […]
Alere shareholders approve amended $5.3B Abbott merger
Alere (NYSE:ALR) said today its shareholders voted to approve its amended merger with Abbott (NYSE:ABT). The amended merger was agreed to in April at a $5.3 billion price tag, with Alere shareholders receiving $51 per common share in cash. Those numbers are down from the original merger agreement, which would have seen Abbott paying $5.8 billion for the […]
Alere says Justice Dept. closed pain lab probe as Q1 losses soar
Alere (NYSE:ALR) said yesterday that the U.S. Justice Dept. closed a probe into its pain management lab in Texas without taking action against the diagnostics giant, which also reported a nearly 974% increase in 1st-quarter losses. Waltham, Mass.-based Alere said the Justice Dept. told it June 8 that the investigation into the lab in Austin was […]
