NEW YORK (360Dx) – Abbott today said that it is extending for a second time 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 initially been scheduled to expire at 11:59 p.m. EDT on Aug 11, and was extended until 11:59 p.m. EDT on Aug. 31. It will now expire at 11:59 p.m. EDT on Sept. 15.