Unsealed Alere (ALR), Abbott (ABT) Litigation Points to Possible Divestitures - BTIG
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Analyst Dane Leone noted,
The most important datapoint is the heavily redacted portion that lists the possibility of potential divestments by Abbott. As we have pointed out, even if we assume that Alere divested its entire Triage meter-based Cardiology platform and the EPOC blood-gas analyzer, ~$147m in global sales during 2014 and ~$30m sales, respectively, we do not think it would be prohibitive to the merger agreement.
Other key points highlighted:
Allen specifically stated that Abbott would attempt to claim some material breach of the representations and warranties contained in the Merger Agreement...
White reiterated these threats at a follow-up meeting with Alere's Chairman, Gregg J. Powers, and its President and Chief Executive Officer, Namal Nawana, informing both that Abbott would spare no expense in making life a 'living hell' for everyone at Alere, including by drowning Alere in a sea of forensic-level informational demands...
Abbott has purposefully failed to supply information expressly requested by the FTC. Three months ago, on May 2, 2016, the FTC issued a request for additional information and documentary materials (the 'Second Request').
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Needham & Company Cuts Price target Following Mobile Mini's (MINI) Weak 3Q
- KeyCorp (KEY): Despite Beat, Revenue And Cost Synergies Still Not In The Numbers - Wedbush
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesDefinitive Agreement, BTIG
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!