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Abbott Labs buys Alere for $5.8B; shares up 46% premarket

Feb. 01, 2016 8:07 AM ETAbbott Laboratories (ABT) StockABT, ALR-OLDBy: Douglas W. House, SA News Editor17 Comments
  • Abbott Laboratories (NYSE:ABT) acquires point-of-care diagnostics firm Alere (NYSE:ALR) for $56 per share ($5.8B). The deal will be immediately accretive to earnings and is expected to add $0.12 - 0.13 to EPS in 2017 and more than $.20 in 2018. Annual pre-tax synergies should be ~$500M by 2019.
  • Under the terms of the deal, Alere shareholders will receive $56 per share in cash. Abbott will also assume $2.6B in Alere outstanding debt.
  • Waltham-MA-based Alere generates ~$2.5B in sales per year. Shares are up 46% premarket on light volume.

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