Alere could be worth $60 in a takeover, says Canaccord Canaccord raised its price target on Alere to $50 from $45 to reflect an increased assumption of the company being a takeover candidate. The firm believes Alere could be acquired for as much as $60 per share and keeps its Buy rating the stock.
Zwanziger says Alere will not provide due diliegence Ron Zwanziger disclosed that he sent an email to Gregg Powers, Alere's Chairman of the Board, seeking a meeting to discuss the proposed due diligence period. Zwanziger also noted that representatives from a private equity firm and an investment bank would accompany him to the meeting to discuss equity and debt financing related to the proposed transaction and to assure Mr. Powers that the proposal is and will be bona fide. Zwanziger said Powers responded by letter, declining the proposed meeting. He also indicated that Alere would not be providing any due diligence opportunity to the former officers. Powers also stated in the Alere Letter that the board would appropriately consider any proposal it believes to be bona fide and would maximize shareholder value.