Biotech Values

[WorstLuck]

[ALR][ABT]

Abbott Laboratories and Alere Inc. reached an agreement to move forward with their contentious merger, with Abbott -- which had sought to wriggle out of the deal -- paying a lower price.

Abbott will now pay $51 a share for Alere, down from the original offer of $56 a share, notching the value of the deal down to $4.44 billion from nearly $5 billion. The amended terms still represent a 21% premium from Alere's Thursday closing price of $42.31 per share.

Congrats to Dew for his charity play. I gave serious consideration to making a buy but never followed through.