Abp acquisition to acquire alerislife for $1.31 per share

Newton, mass.--( business wire )--alerislife inc. (nasdaq: alr) today announced that it has entered into a definitive agreement with abp acquisition llc, or abp, under which abp will acquire all of the outstanding shares of alr common stock for $1.31 per share in cash, which represents an 85% premium to the average trading price of the last 30 trading days of $0.71 per share. the total consideration to be paid to stockholders in the transaction is approximately $43.8 million and is not subject to any financing condition. abp is majority owned and controlled by adam portnoy, one of alr's managing directors and the chair of its board of directors.
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