Alere Shareholders Approve Merger With Abbott Labs

(RTTNews) - Alere Inc. (ALR) said that its shareholders have voted to approve the previously announced merger with Abbott Laboratories (ABT). In a final count of the voting results, over 98% of votes cast at a special meeting voted in favor of the merger, representing 77% of all outstanding Alere shares as of the August 26, 2016 record date.

Upon closing of the merger, Alere shareholders will receive $56 per common share in cash, and Alere will become a subsidiary of Abbott. The transaction remains subject to the satisfaction of customary closing conditions, including applicable regulatory approvals.