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ABT

Abbott

$48.91

0.83 (1.73%)

, ALR

Alere

$50.26

-0.12 (-0.24%)

08:21
07/17/17
07/17
08:21
07/17/17
08:21

Abbott commences tender offer for Alere perpetual preferred stock

Abbott (ABT) announced that it is commencing a tender offer to purchase for cash all outstanding shares of Series B Convertible Perpetual Preferred Stock of Alere (ALR) 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 is being made pursuant to an Offer to Purchase, dated July 17, and in connection with Abbott's previously announced agreement to acquire Alere. The Merger is not conditioned upon, or otherwise subject to, the completion of the Offer. The Offer, however, is conditioned upon the consummation of the Merger in accordance with the terms of the Merger Agreement. The Offer will expire at 11:59 p.m., New York City time, on Friday, August 11. If, upon the expiration of the Offer, any of the conditions to the Offer have not been satisfied or waived, Abbott may elect to extend the Offer for any length of time and in its sole discretion, but is under no obligation to do so.

ABT

Abbott

$48.91

0.83 (1.73%)

ALR

Alere

$50.26

-0.12 (-0.24%)

  • 20

    Jul

  • 30

    Jul

ABT Abbott
$48.91

0.83 (1.73%)

05/31/17
STFL
05/31/17
NO CHANGE
STFL
Abbott making progress, says Stifel
After meeting with several Abott senior managers, Stifel analyst Rick Wise says that the company appears to be "making gradual and steady progress across multiple areas" of its medical device business. The analyst heard evidence of positive cross selling trends and the improvement of its St. Jude Rhythm Management franchise. He raised his price target on the stock to $51 from $49 and keeps a Buy rating on the shares.
06/28/17
RBCM
06/28/17
NO CHANGE
RBCM
RBC sees competing bid for Spectranetics as unlikely
RBC Capital analyst Glenn Novarro believes a competing bid for Spectranetics (SPNC) is unlikely and that Philips' (PHG) offer "signals a high probability of an on-time approval." The analyst notes Boston Scientific (BSX) is already developing a drug-eluting stent and a drug-coated balloon for peripheral artery disease and that Abbott (ABT) is integrating St. Jude while also soon closing its buyout of Alere (ALR).
06/29/17
GUGG
06/29/17
INITIATION
Target $58
GUGG
Buy
Abbott initiated with a Buy at Guggenheim
Guggenheim analyst Christopher Pasquale initiated Abbot with a Buy and a $58 price target.
06/29/17
JEFF
06/29/17
NO CHANGE
Target $58
JEFF
Buy
Abbott transferred with Buy, $58 target at Jefferies
Jefferies transferred coverage of Abbott to Raj Denhoy with a Buy rating and $58 price target. The analyst sees deal synergies and organic improvements driving operating margins from 22.4% in 2017 to 25.2% in 2020.
ALR Alere
$50.26

-0.12 (-0.24%)

05/15/17
CHLM
05/15/17
DOWNGRADE
CHLM
Hold
Alere downgraded to Hold from Buy at Craig-Hallum
05/15/17
05/15/17
DOWNGRADE
Target $51

Hold
Alere downgraded to Hold at Craig-Hallum
As previously reported, Craig-Hallum analyst Kevin Ellich downgraded Alere (ALR) to Hold from Buy after assuming coverage of the stock and as a recalibrated deal with Abbott (ABT) looks like the most likely outcome. The analyst also lowered his price target on Alere's shares to $51 from $56.
06/06/17
ADAM
06/06/17
DOWNGRADE
ADAM
Hold
Alere downgraded to Hold from Buy at Canaccord

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AGN

Allergan

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2.12 (1.13%)

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WBC

Wabco

$155.08

6.01 (4.03%)

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UAL

United Continental

$59.78

-8.21 (-12.08%)

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ENBL

Enable Midstream

$15.60

0.06 (0.39%)

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  • 01

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$DJT

DJ Transportation Average

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$DJU

DJ Utility Average

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DJX

Dow Jones Industrial Average

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IYT

iShares Transportation Average

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XLK

Technology Select Sector SPDR

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XLE

Energy Select Sector SPDR

$67.64

-0.21 (-0.31%)

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XLY

Consumer Discretionary Sector SPDR

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XLB

S&P Select Materials SPDR

$58.24

0.22 (0.38%)

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XLU

Utilities SPDR

$54.82

0.57 (1.05%)

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XLP

Consumer Staples Sector SPDR

$54.03

-0.29 (-0.53%)

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SKX

Skechers

$24.03

-1.06 (-4.22%)

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XLV

Health Care Select Sector SPDR

$83.79

0.51 (0.61%)

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IWM

iShares Trust Russell 2000 Index Fund

$149.29

-0.23 (-0.15%)

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QURE

uniQure

$15.16

5.69 (60.08%)

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DIA

Diamonds Fund ETF

$231.47

0.19 (0.08%)

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SPY

SPDR S&P 500 ETF Trust

$255.79

0.07 (0.03%)

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XLF

Financial Select Sector

$26.33

0.02 (0.08%)

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SMH

Market Vectors Semiconductor

$97.85

-0.2 (-0.20%)

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QQQ

PowerShares QQQ Trust

$148.31

-0.55 (-0.37%)

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