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The Wall Street Journal: Abbott and Alere move forward with merger at lower price

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Abbott had tried to get out of the deal with Alere, but will proceed at a reduced price

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 ABT, -1.86% will now pay $51 dollars a share for Alere ALR, -0.12% , 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.

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