Key Developments: Alere Inc (ALR)
26.67USD
21 May 2013
$0.20 (+0.77%)
$26.30
$26.49
$27.27
$26.00
1,067,911
669,759
$29.57
$17.13
Latest Key Developments (Source: Significant Developments)
Alere Inc Declares Cash Dividend On Series B Convertible Perpetual Preferred Stock
Alere Inc announced that it has declared a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock. The dividend is payable on April 15, 2013 to holders of record of Series B stock at the close of business on April 1, 2013. Such payment will cover the amount of all dividends accrued from January 1, 2013 through March 31, 2013. Full Article
Alere Inc Announces Acquisition Of Epocal Inc.
Alere Inc announced that it has acquired Epocal, Inc., a provider of technologies that support blood gas and electrolyte testing at the point of care.Alere paid approximately $166 million cash to acquire Epocal, which includes a $15 million payment for the achievement of the first two financial milestones specified in the agreement. Additional payments of up to $75.5 million could be triggered if milestones linked to the delivery of additional product offerings on the Epocal platform are achieved. Full Article
Alere Inc Announces Completion of $450 Million Senior Notes Offering
Alere Inc announced that it has completed its previously announced offering of $450 million aggregate principal amount of senior notes. The notes will bear interest at a rate of 7.250% per year, payable semi-annually on June 15 and December 15 of each year, beginning on June 15, 2013, and will mature on July 1, 2018 unless earlier redeemed. The Company will use the net proceeds from the offering to finance its announced cash tender offer to repurchase any and all of its outstanding $250.0 million aggregate principal amount of 7.875% senior notes due 2016, to repay all outstanding revolving borrowings under its credit agreement and for working capital and other general corporate purposes, including the financing of potential acquisitions or investments, stock repurchases and capital expenditures. The Company may also use a portion of the net proceeds to pay all or a portion of any post-closing payment, earn-out payment or other form of deferred or contingent consideration for previously completed acquisitions. Full Article
Alere Inc Declares Cash Dividend On Series B Convertible Perpetual Preferred Stock
Alere Inc announced that it has declared a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock. The dividend is payable on January 15, 2013 to holders of record of Series B stock at the close of business on January 2, 2013. Such payment will cover the amount of all dividends accrued from October 1, 2012 through December 31, 2012. Full Article
Alere Inc Announces Pricing of Senior Notes Offering
Alere Inc announced that, in connection with its previously announced private placement of senior notes due 2018, it entered into a purchase agreement with the initial purchasers of the notes on November 28, 2012. The notes have a coupon of 7.250% per annum and are being offered at par. The Company expects to complete the offering on or about December 11, 2012 and intends to use the net proceeds from the offering to repurchase any and all of its outstanding $250.0 million aggregate principal amount of 7.875% Senior Notes due 2016, to repay outstanding revolving borrowings in the aggregate principal amount of approximately $97.5 million under its credit agreement and for working capital and other general corporate purposes, including the financing of potential acquisitions or investments, stock repurchases and capital expenditures. The Company may also use a portion of the net proceeds to pay all or a portion of any post-closing payment, earn-out payment or other form of deferred or contingent consideration for previously completed acquisitions. Full Article
Alere Inc Announces Offering Of $450 Million Of Senior Notes
Alere Inc announced that it intends to offer $450 million of senior notes due 2018 through a private placement, subject to market and other conditions. The Company intends to use the net proceeds from the offering to finance its announced cash tender offer to repurchase any and all of its outstanding $250.0 million aggregate principal amount of 7.875% Senior Notes due 2016 (the 2016 Notes), to repay outstanding revolving borrowings in the aggregate principal amount of approximately $97.5 million under its credit agreement and for working capital and other general corporate purposes, including the financing of potential acquisitions or investments, stock repurchases and capital expenditures. The Company may also use a portion of the net proceeds to pay all or a portion of any post-closing payment, earn-out payment or other form of deferred or contingent consideration for previously completed acquisitions. Full Article
Alere Inc Declares Cash Dividend On Series B Convertible Perpetual Preferred Stock
Alere Inc announced that it has declared a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock. The dividend is payable on October 15, 2012 to holders of record of Series B stock at the close of business on October 1, 2012. Such payment will cover the amount of all dividends accrued from July 1, 2012 through September 30, 2012. Full Article
Alere Inc Lowers FY 2012 EPS Guidance-Conference Call
Alere Inc announced that it has indicated earnings would exceed $2.50 for fiscal 2012. The Company expects weakness in Europe, it did not anticipate the extent of the weakness and do not believe it can absorb it and the Triage impacts. As a result, the Company is taking a cautious view of both Europe and the Triage issue and reducing guidance for fiscal 2012 to a range from $2.30 to $2.45. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.54 for fiscal 2012. Full Article
Alere Inc Starts Recall Of Cardiology Test Lots-Reuters
Reuters reported that Alere Inc, said it started a recall of about 104 lots of its Triage cardiology products as they do not satisfy a particular quality control method as prescribed by U.S. health regulators. Alere earlier this month warned of a need to recall after the U.S. Food and Drug Administration inspected its San Diego facility in March and questioned labeling and quality control method of its Triage products. Alere expects to have limited inventory of its Triage cardiology panels for an unknown duration of time, but said it was "significantly increasing production" and sees a related increase in manufacturing costs from the second quarter of 2012. The recall covers unexpired lots of Alere Triage cardiology products sold in the United States, but allows customers who do not have an alternate testing method to continue using these lots. Full Article
Alere Inc Declares Cash Dividend On Its Series B Convertible Perpetual Preferred Stock
Alere Inc announced that it has declared a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock. The dividend is payable on July 16, 2012, to holders of record of Series B stock at the close of business on July 2, 2012. Full Article
Activist investor wants Alere to explore $2.5 billion unit sale: sources
NEW YORK - An activist investor in Alere Inc wants the health diagnostics and services company to explore a sale of its drug testing business, which it believes could fetch as much as $2.5 billion and help Alere pay down debt, two people familiar with the matter said on Tuesday.
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