NEW YORK (360Dx) – Abbott today announced the commencement of a cash tender offer for all outstanding shares of Alere's Series B convertible perpetual preferred stock.
The purchase of the preferred stock at $402 per share is in connection to Abbott's $5.3 billion acquisition of Alere. Alere shareholders approved the acquisition earlier this month.
The tender offer will expire at 11:59 p.m. EDT on Aug. 11.