Abbott to Acquire Alere for $5.8 Billion

On February 1, 2016, global healthcare company Abbott and leading point-of-care diagnostics company Alere announced that they have entered into a definitive agreement under which Abbott has agreed to acquire Alere for a total expected equity value of approximately $5.8 billion. Wilson Sonsini Goodrich & Rosati is representing Abbott's financial advisor, Evercore, in the transaction.

Under the terms of the agreement, Alere shareholders will receive $56 per common share in cash at the completion of the transaction, and the company will become a subsidiary of Abbott.

The transaction has been approved by both companies' boards of directors and is subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.

The WSGR team representing Evercore in the transaction includes chairman Larry Sonsini and partners Brad Finkelstein, Jamillia Ferris, and Doug Schnell.

For more information, click here to read the companies' joint press release.