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Covington Advises Axis-Shield plc on £235M Takeover Offer from Alere, Inc.


LONDON, 21 October, 2011 — Covington & Burling LLP is advising Axis-Shield plc on the recommended £235 million all cash public takeover offer from Alere, Inc., a US company listed on the New York Stock Exchange.

Axis-Shield is a Scottish-Norwegian company, listed on the London and Oslo Stock Exchanges, that develops and manufactures in vitro diagnostic tests for use in clinical laboratories and at the point of care. Alere initially made a hostile bid for the company in June 2011, which was vigorously defended by Axis-Shield and its advisors. Ultimately, the board of Axis-Shield recommended an increased cash offer from Alere valuing the company at £235 million.

The London-based Covington corporate team is led by partner Paul Claydon, who is assisted by partners James Halstead and Natalie Diep, special counsel Matthew Edwards, associates James Baillieu, Alexander Clarke, Andrew Dalton and Naomi McBride, and trainee Zafar Qadir. Miranda Cole, a partner in the firm’s EU competition practice, provided antitrust advice.

Covington’s life sciences practice and its lawyers are widely recognised for their excellence, including rankings in Chambers Global, Chambers UK, Chambers USA, Legal 500 UK, Legal 500 USA, Legal 500 EMEA and PLC.

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