Alere pulls IPO plans for subsidiary

Alere Inc. (NYSE:ALR) said it no longer plans to pursue an IPO in the U.K. for its BBI Diagnostics Group plc subsidiary, which develops, manufactures and markets reagents for diagnostic tests and advanced laboratory diagnostic instruments. Alere first announced plans for an IPO for the subsidiary in April, and in May said the IPO would be on the London Stock Exchange. On Wednesday, Alere said it plans to seek greater value for BBI "than could be realized under current equity market conditions" in the U.K. BBI had 2013 revenues of L86.9 million ($143.6 million). ...