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Abbott

Abbott is accused of infringing IP related to a method for detecting HIV-2 antibodies and of violating the terms of a licensing deal related to the patent. 

The offer of $402 per share was made in connection with Abbott's acquisition of Alere, which was completed on Tuesday.

Abbott said in an SEC filing today that the "aggregate consideration" paid regarding the merger was about $4.6 billion and that Alere is now an Abbott subsidiary.

Abbott's tender offer to purchase all outstanding shares of Alere's Series B convertible perpetual preferred stock at $402 per share is now scheduled to expire on Oct. 3. 

The firm said that it will soon apply for a CLIA waiver of the second-generation test,which can report positive results in as little as five minutes

The firm said today that it has received all regulatory clearances to close the deal that it first proposed in February 2016.

The deal ends an investigation by the SEC into certain accounting practices by Alere's foreign subsidiaries. The company also consented to a cease-and-desist order. 

Alere this week informed the New York Stock Exchange in writing of its intention to voluntarily delist its Series B convertible perpetual preferred stock from the exchange.

Investment banks Canaccord Genuity and Raymond James also raised their price targets on the company.

Under the new purchase terms, Quidel will have direct commercial responsibility for the assays run on Beckman Coulter analyzers. The deal is now valued at $680 million.

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