Leerink Boosts PT on Alere (ALR) to $56; Doesn't See Regulatory Issues, Stronger Bid Above Abbott (ABT)
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Jefferies Downgrades Alere (ALR) to Hold Following Takeover
February 2, 2016 7:58 AM ESTJefferies downgraded Alere (NYSE: ALR) from Buy to Hold with a price target of $56.00 (from $54.00) after the company agreed to be acquired by Abbott Laboratories.
For an analyst ratings summary and ratings history on Alere... More
Abbott (ABT) to Acquire Alere (ALR) for $56/Share
February 1, 2016 8:02 AM ESTAbbott (NYSE: ABT) and Alere Inc. (NYSE: ALR) announced today a definitive agreement for Abbott to acquire Alere, significantly advancing Abbott's global diagnostics presence and leadership. Under the terms of the agreement, Abbott will pay $56 per common share at a total expected equity value of $5.8 billion. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing. Abbott's total diagnostics sales will exceed $7 billion after the close.
Abbott will be able to provide new, flexible, cost-effective, high-quality products to help health systems meet... More
