Alere Announces Offer to Acquire Axis-Shield for $7.51 Share

Alere Inc. ALR announced earlier today that it will make a cash offer for the entire issued and to be issued ordinary share capital of Axis-Shield, whose shares are traded on the main market of the London Stock Exchange and on the Oslo Bors. Axis-Shield shareholders will be offered 460 pence (or approximately $7.51) for each Axis-Shield share held by them, valuing the transaction at approximately £230 million (or approximately $375 million). The offer will be conditional upon Alere receiving valid acceptances in respect of not less than 90 percent of Axis-Shield shares to which the offer relates and not less than 90 percent of the voting rights carried by those shares.