ARTICLE | Company News

Alere, Axis-Shield deal

August 15, 2011 7:00 AM UTC

Alere began an unsolicited tender offer to acquire fellow diagnostics company Axis-Shield for 460p per share in cash. The price, which values Axis-Shield at about £230 million ($377.8 million), is a 37% premium to Axis-Shield's close of 335p on July 5, the day before Alere made the original offer. Axis-Shield said that it continues to believe the price undervalues the company. Axis-Shield added that it will provide a detailed response to shareholders no later than Aug. 25. The tender offer expires Sept. 1. ...