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Abbott Completes Tender Offer for Alere Preferred Stock

NEW YORK (GenomeWeb) – After several extensions, Abbott completed its tender offer to purchase all outstanding shares of Alere's Series B convertible perpetual preferred stock at $402 per share.

The offer was made in connection with Abbott's acquisition of Alere, which was completed on Tuesday. The offer expired at 11:59 p.m. the same day.

American Stock Transfer & Stock, the depositary for the offer, has told Abbott that as of the expiration time more than 1.7 million shares of preferred stock had been tendered in the offer, representing about 98.5 percent of the outstanding shares of preferred stock.