EU Approves Acquisition Of Alere By Abbott Labs

(RTTNews) - The European Commission approved the acquisition of Alere Inn. (ALR) by Abbott Laboratories (ABT). The decision is conditional on the divestment of Alere's Epoc and Triage tests, as well as Alere's BNP reagents business.

"This regulatory clearance marks a significant milestone toward the completion of our transaction with Abbott and we remain highly confident that the merger will close according to the terms of the agreement," said Namal Nawana, CEO and President of Alere.

As previously announced on February 1, 2016, Alere has entered into a definitive agreement under which Abbott will acquire Alere for $56 per common share in cash.