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Abbott

Overall, the company reported its total revenues grew 29 percent year over year to $6.83 billion. It also said that it is reorganizing the Alere business, completed earlier this month. 

The company immediately borrowed $255 million to pay part of the $680 million price tag for Alere's MeterPro cardiovascular and toxicology business and its BNP assay business.

The offer of $402 per share was made in connection with Abbott's acquisition of Alere, which was completed on Tuesday.

Abbott said in an SEC filing today that the "aggregate consideration" paid regarding the merger was about $4.6 billion and that Alere is now an Abbott subsidiary.

Abbott's tender offer to purchase all outstanding shares of Alere's Series B convertible perpetual preferred stock at $402 per share is now scheduled to expire on Oct. 3. 

The firm said that it will soon apply for a CLIA waiver of the second-generation test,which can report positive results in as little as five minutes

The firm said today that it has received all regulatory clearances to close the deal that it first proposed in February 2016.

The deal ends an investigation by the SEC into certain accounting practices by Alere's foreign subsidiaries. The company also consented to a cease-and-desist order. 

Investment banks Canaccord Genuity and Raymond James also raised their price targets on the company.

Abbott said that greater than 90 percent of the issued and outstanding shares of preferred stock had been tendered as of Sept. 15.

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