NEW YORK (GenomeWeb) – Abbott today announced that it is extending its previously announced cash tender offer to purchase all outstanding shares of Alere's Series B convertible perpetual preferred stock at a price of $402 per share.
The offer is being made in connection to Abbott's $5.3 billion acquisition of Alere. Alere shareholders approved the acquisition in July.
The tender offer is being extended to allow additional time for the consummation of the deal, Abbott said.
The offer had been scheduled to expire at 11:59 p.m. EDT on Aug 11. It will now expire at 11:59 p.m. EDT on Aug. 31.