Despite Legal Dispute, Abbott Set To Buy Alere for $5.3bn

Soon before it was set to take Alere to court in an attempt to break out of an acquisition deal, Abbott has reversed course and plans to buy the company for half a billion less than the original price tag.

After months of trying to get out of buying the diagnostics company Alere Inc., Abbott Laboratories Inc. has decided to kiss and make up with the Massachusetts-based point-of-care diagnostics manufacturer. Abbott and Alere announced April 14 that they have agreed to an amendment to the original deal, and now expect it to close by the end of September.

Under the terms of an amended agreement, Abbott will pay $51 in cash per share for Alere, instead of $58 per share agreed-to in the original acquisition deal signed in...

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