BioCentury
ARTICLE | Company News

Alere, Axis-Shield deal

October 10, 2011 7:00 AM UTC

Axis-Shield recommended that shareholders accept a takeover bid from fellow diagnostics company Alere. Alere, which said at the end of September that it owned 29.9% of Axis-Shield, increased its offer to 470p per share from 460p per share. The new offer, which values Axis-Shield at about £235 million ($365.2 million), is a 40% premium to Axis-Shield's close of 335p on July 5, the day before Alere made the original offer. The tender offer expires Oct. 24 (see BioCentury, Oct. 3). ...