Alere seeks consents, tenders for $250 million 7 7/8% notes due 2016

By Toni Weeks

San Diego, Nov, 27 - Alere Inc. began a cash tender offer for its $250 million outstanding principal amount of 7 7/8% senior notes due 2016, according to a press release.

The total purchase price will be $1,049.43 per $1,000 principal amount of notes. The price includes a $30 consent payment for notes tendered by 5 p.m. ET on Dec. 10, the consent payment deadline. Holders who tender their notes after the early deadline will receive $1,019.43 per $1,000 principal amount.

The company is also soliciting consents to amend the indenture governing the notes. Holders who tender their notes will be deemed to have consented to the proposed amendments to the indenture.

The tender offer will expire at 11:59 p.m. on Dec. 26.

The offer is contingent on the completion of a capital markets debt offering in an amount sufficient to fund the tender offer, consents from a majority in principal amount of notes and the execution of an amendment to the indenture.

Jefferies & Co., Inc. (888 708-5831 or call collect 203 708-5831) is the dealer manager and solicitation agent. The tender agent and information agent is i-Deal LLC (888 593-9546 or 212 849-5000 for brokers and bankers).

Waltham, Mass.-based Alere develops systems for near-patient diagnosis, monitoring and health management in the fields of cardiology, women's health, infectious disease, oncology and toxicology.

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