WALTHAM, Mass., Sept. 19, 2011 /PRNewswire/ -- Alere Inc. (NYSE: ALR), a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, announced today that on September 16, 2011, it made additional purchase of 1,000,000 shares of Axis-Shield stock, bringing its total current ownership position to 5,546,697 shares, or approximately 11.09%, of Axis-Shield's issued and outstanding ordinary share capital. The additional shares were purchased at a price per share of 460 pence.
On August 5, Alere announced an offer to acquire all of the issued and to be issued share capital of Axis-Shield, whose shares are traded on the main market of the London Stock Exchange and on the Oslo Bors, for 460 pence per share. As previously announced, holders of 498,754 shares of Axis-Shield stock had submitted valid acceptances of the offer as of September 15, 2011 (which acceptances may be later withdrawn in accordance with the terms of the offer). Alere owns or has received valid acceptances in respect of a total of 6,045,451 shares of Axis-Shield stock, representing, in aggregate, approximately 12.09% of Axis-Shield's issued and outstanding ordinary share capital.
The complete announcement of the additional open market purchases was made through the Regulatory News Service of the London Stock Exchange pursuant to UK regulatory and legal requirements. A copy of the regulatory announcement can be found on the Alere website, http://www.alere.com, and the website of the London Stock Exchange, www.londonstockexchange.com.
The offer is for the securities of a corporation organized under the laws of Scotland and is subject to the procedure and disclosure requirements of the United Kingdom, including the City Code on Takeovers and Mergers (the "Code"), which are different from those of the United States. The offer is made in the United States pursuant to Section 14(e) of the US Securities Exchange of 1934, as amended (the "Exchange Act"), subject to the exemptions provided by Rule 14d-1(c) under the Exchange Act and otherwise in accordance with the requirements of the Code. Accordingly, the offer is subject to disclosure and other procedural requirements, including with respect to withdrawal rights, the offer timetable, settlement procedures and timing of payments that are different from those applicable under US domestic tender offer procedures and laws.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Alere is headquartered in Waltham, Massachusetts.
SOURCE Alere Inc.