Shares of Alere (ALR) were gaining by 16.4% to $49.25 on Monday morning, following Friday's announcement that the health information through diagnostic testing company and healthcare products distributor Abbott (ABT) have agreed to continue with their merger.
Abbott sought to exit the deal, but will now pay a lower price of $51 a share for Alere, down from the original price of $56 per share. The deal's value is about $4.44 billion. The deal is expected to close by the end of the 2017 third quarter.
The companies also agreed to dismiss their respective lawsuits as part of the deal.
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