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Alere Sues To Compel Completion Of Abbott Merger

 
• By Elizabeth Orr

Abbott's confidence in the planned $5.8b deal has declined since the acquisition was announced in January following disclosures of investigations into Alere's business practices. Alere hopes the suit will prod Abbott to speed its efforts to secure regulatory approvals for the merger.

Alere Inc. has filed suit against Abbott Laboratories Inc., saying it has failed to move forward on the merger agreement between the companies in a timely manner. The $5.8b merger would create the world’s largest diagnostics company.

The lawsuit, filed Aug. 25 in Delaware Chancery Court, states that Abbott “breached the merger agreement between the parties by failing to promptly secure antitrust approvals and other regulatory requirements.”...

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