Abbott tenders for Alere’s series B convertible perpetual preferreds

By Susanna Moon

Chicago, July 17 – Abbott is tendering for cash all of the outstanding shares of series B convertible perpetual preferred stock issued by Alere Inc.

The purchase price will be $402.00 per preferred plus accrued dividends to but excluding the settlement date.

The tender will end at 11:59 p.m. ET on Aug. 11.

The offer is being made in connection with Abbott's plans to acquire Alere, according to a company announcement.

The merger is not conditioned upon closing of the offer; however, the tender is conditioned upon the closing of the merger.

The offer does not contain a financing condition but does require tenders for at least a majority of the voting power of the preferreds outstanding at the end of the offer.

Barclays (212 528-7581 or 800 438-3242) is the dealer manager. D.F. King & Co., Inc. (212 269-5550, 877 283-0316 or alr@dfking.com) is the information agent.

Abbott is an Abbott Park, Ill., health care company with offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

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