Abbott (NYSE:ABT) said today it closed its tender offer for all outstanding Alere (NYSE:ALR) Series B convertible perpetual preferred stock shares at $402 per share.
The offer was made in connection with Abbott’s acquisition of Alere, which closed yesterday.
A total of 1.7 million shares of preferred stock were tendered in the offer, representing 98.5% of the outstanding shares of preferred stock, Abbott said in a press release.
All conditions in the offering have been satisfied, and Abbott said that payment of the offer price for shares of preferred stock will be “promptly made by the depositary.”
The offer, originally announced on July 17, was extended to Sept 15 to “allow additional time for the consummation of the merger,” Abbott said in a press release.
The offer was originally slated to expire at midnight on August 11, and was previously extended to August 31.
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