ABBOTT PARK, Ill., Sept. 1, 2017
/PRNewswire/ -- Abbott (NYSE: ABT) announced today that it is
extending its previously announced tender offer to purchase for
cash all outstanding shares of Series B Convertible Perpetual
Preferred Stock (the "Preferred Stock") of Alere Inc. ("Alere") at
a price of $402.00 per share of
Preferred Stock, plus accrued but unpaid dividends to, but not
including, the settlement date of the tender offer, net to the
seller thereof in cash, without interest thereon and subject to any
withholding of taxes required by applicable law (the "Offer"). The
Offer is being made pursuant to an Offer to Purchase, dated
July 17, 2017 (the "Offer to
Purchase"), and in connection with Abbott's previously announced
agreement to acquire Alere (the "Merger"). The Merger is not
conditioned upon, or otherwise subject to, the completion of the
Offer.
The Offer is being extended to allow additional time for the
consummation of the Merger, which is a condition to the completion
of the Offer. The Offer was previously scheduled to expire at
11:59 p.m., New York City time, on Thursday, Aug. 31, 2017 and will now expire at
11:59 p.m., New York City time, on Friday, Sept. 15, 2017 (such date and time, as it
may be extended or earlier terminated, the "Expiration Date"). If,
at the Expiration Date, any of the conditions to the Offer have not
been satisfied or waived, Abbott may elect to further extend the
Offer for any length of time and in its sole discretion, but is
under no obligation to do so.
American Stock Transfer & Trust Company, LLC, the depositary
for the Offer, has advised Abbott that, as of 11:59 p.m., New York
City time, on Thursday, Aug. 31,
2017, greater than 90% of the issued and outstanding shares
of Preferred Stock had been tendered in the Offer. Holders of
Preferred Stock who have already tendered their shares do not have
to re-tender their shares or take any other action as a result of
the extension of the expiration of the Offer.
For more information, contact Barclays Capital Inc., the
Dealer-Manager for the Offer, or D.F.
King & Co., Inc., the Information Agent for the
Offer.
D.F. King &
Co., Inc.
48 Wall Street – 22nd Floor
New York, New York 10005
|
Barclays 745 Seventh Avenue, 5th Floor
New York, New York 10019
Attn: Liability Management Group
|
Banks and Brokers
Call: (212) 269-5550
All others call Toll-Free: (877) 283-0316
Email: alr@dfking.com
|
Banks and Brokers
Call: (212) 528-7581
All others call Toll-Free: (800) 438-3242
|
Additional Information and Where to Find It
This announcement is neither an offer to purchase nor a
solicitation of an offer to sell securities. The Offer for the
outstanding shares of Alere's Preferred Stock described in this
news release is being made pursuant to an Offer to Purchase and
related materials that Abbott has filed with the Securities and
Exchange Commission (the "SEC") pursuant to a Schedule TO. The
Schedule TO, Offer to Purchase, a related letter of transmittal and
other Offer documents contain important information that should be
read carefully before any decision is made with respect to the
Offer. These materials (and all other documents Abbott has filed
with the SEC) will be available at no charge on the SEC's website
at www.sec.gov.
About Abbott
Abbott is a global healthcare company devoted to improving life
through the development of products and technologies that span the
breadth of healthcare. With a portfolio of leading, science-based
offerings in diagnostics, medical devices, nutritionals and branded
generic pharmaceuticals, Abbott serves people in more than 150
countries and employs approximately 94,000 people.
Visit Abbott at www.abbott.com and connect with us on
Twitter at @AbbottNews.
A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking
statements. Abbott cautions that these forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those indicated in the
forward-looking statements. Economic, competitive, governmental,
technological and other factors that may affect Abbott's operations
are discussed in Item 1A, "Risk Factors," in Abbott's Annual Report
on Form 10-K for the year ended Dec. 31,
2016, and are incorporated by reference. Abbott undertakes
no obligation to release publicly any revisions to forward-looking
statements as a result of subsequent events or developments, except
as required by law.
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SOURCE Abbott