Alere's (ALR) Suit Against Abbott (ABT) Filed Sooner than Expected; BTIG Affirms at 'Buy'

August 26, 2016 2:52 PM EDT
Get Alerts ALR Hot Sheet
Price: $45.01 +2.06%

Rating Summary:
    6 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BTIG affirms Alere (NYSE: ALR) at Buy with a price target today amid the company filing a complaint against Abbott (NYSE: ABT).

  • Analyst Dane Leone said that the suit came sooner than expected and also noted the following:
  • Alere seeks to compel Abbott to complete the transaction in accordance with the terms under the merger agreement.
  • “Short statement and nature of claim asserted: Defendant has breached the merger agreement between the parties by failing to promptly secure antitrust approvals and other regulatory requirements.”

ALR management declined to comment beyond the press release.

For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.

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