NEW YORK (GenomeWeb) – Abbott and Alere said today that they have agreed to amend the terms of their acquisition agreement and dismiss lawsuits they had filed against each other.

Under the amended terms, Abbott will pay $51 per share to acquire Alere for a new total price of about  $5.3 billion — reduced from an original purchase price of around $5.8 billion proposed in February 2016 when Abbott announced that it was acquiring Alere.

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