Abbott, Alere Amend Terms of Merger Agreement

Abbott (NYSE: ABT) (No. 14 on the DiversityInc Top 50 Companies list) and Alere Inc. (NYSE: ALR) announced today that the companies have agreed to amend the existing terms of their agreement for Abbott’s acquisition of Alere.


Under the amended terms, Abbott will pay $51 per common share to acquire Alere, for a new expected equity value of approximately $5.3 billion, reduced from the originally expected equity value of approximately $5.8 billion.

The transaction is expected to close by the end of the third quarter of 2017, subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.

Under the amended terms, the date by which necessary regulatory approvals must be received has been extended to Sept. 30, 2017, from April 30, 2017. Additionally, the companies have agreed to dismiss their respective lawsuits.

On Feb. 1, 2016, Abbott and Alere announced a definitive agreement for Abbott to acquire Alere, the global leader in point of care diagnostics, which will significantly expand Abbott’s global diagnostics presence and leadership.

Point of care testing is a $5.5 billion segment and one of the fastest growing in vitro diagnostics segments, in part because many health care systems are increasing their reliance on these technologies to inform patient care decisions because of their ease of use, speed and accuracy.

Latest News

Syracuse University campus

News Roundup: TV Diversity, Syracuse Hire, and Segregated Training

Check out our news roundup of diversity and inclusion updates and insights from across the U.S.: Syracuse University Creates Athletics Diversity Position  While most colleges and universities around the county are making COVID-19-related cuts in regard to their athletic departments, Syracuse University has hired Salatha T. Willis as the associate athletic…

Cesar Conde

NBCUniversal Sets Ambitious 50% Diversity Goal for Women, People of Color

Cesar Conde, chairman at NBCUniversal News Group, announced a groundbreaking goal to have a 50% diverse workforce at NBCUniversal, according to Deadline. Conde, the first Latino in this role, outlined his plans in an internal video for employees on Wednesday. The ultimate goal is for NBCUniversal, No. 7 on DiversityInc’s 2020…

Mastercard Expands ShopOpenings.com to the U.S. & Canada, Delivering a Search Tool That Identifies What Stores Near You Are Open for Business

Originally published on mastercardcontentexchange.com. Search solution complements new Digital Acceleration for Small Business global initiative which helps small businesses advance digitally and drive online commerce As businesses seek to draw customers back both in store and online, Mastercard is introducing new tools to support them. Today, Mastercard announced the geographic…

TIAA Launches Programs to Raise Awareness of Racial Injustice and Support Communities in Need through the “Be The Change” Initiative

On June 30, TIAA announced new virtual programs designed to raise awareness of racial injustice and support communities in need as a part of the company’s recently launched “Be the Change” initiative. One is TIAA’s “Race Against Racism,” an effort in support of The Innocence Project which included more than…

Stop TB Partnership and Johnson & Johnson, with support from USAID and The Global Fund, Announce Price Reduction for SIRTURO® (bedaquiline) for Treatment of Drug-Resistant Tuberculosis in Low- and Middle-Income Countries

Originally published on jnj.com. Joint efforts aim to accelerate scale-up of WHO-recommended all-oral treatment regimens – a transition urgently needed to help protect the health of people with drug resistant-tuberculosis who are particularly vulnerable during COVID-19 pandemic In 2020, the initiative aims to reach at least 125,000 patients and could…