Alere Inc. (ALR) , a global leader in rapid diagnostic tests, announced on Friday that its shareholders have voted to approve the company's previously announced amended merger with Pharmaceutical firm Abbott Laboratories (ABT) .
In the final count, 63 million of votes cast at a special meeting voted in favor of the amended merger, representing over 72.5% of all outstanding Alere shares as of the May 31.
The final vote results will be filed on a Form 8-K with the Securities and Exchange Commission.
When the merger is finalized, Alere shareholders will receive $51 per common share in cash, and Alere will become a subsidiary of Abbott.
The transaction remains subject to the satisfaction of customary closing conditions, including applicable regulatory approvals.
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The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A) (BRK.B) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."
Clearly, Buffett is still bullish on America's future. TheStreet takes a look at the billionaire's biggest bets on America.
Who cares, Elon: Tesla (TSLA) agreed to build the world's largest lithium-ion battery park in South Australia on Friday, signing off on a deal to finish the installation within 100 days or give it away for free. Failure to deliver the project on time would cost his company about $50 million, said CEO Elon Musk, though neither the state government nor Tesla released details of the contract.
Qualcomm battle with Apple gets even nastier: Qualcomm (QCOM) added a couple of unexpected wrinkles into its legal salvo with Apple (AAPL) , TheStreet's tech columnit Eric Jhonsa says. One of these wrinkles aims to neutralize some of the legal arguments Apple, as well as certain regulators, have been making against Qualcomm. The other, says Jhonsa, aims to both lower the odds of a political intervention in Apple's favor, as well as boost Qualcomm's near-term chip sales at Intel Corp.'s (INTC) expense.
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