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Abbott Tried To Pull Out Of Alere Deal, But It Remains On For Now

A disclosure from Alere says Abbott did attempt to terminate its agreement to buy the diagnostics company due to an ongoing federal investigation of Alere, but Abbott has reaffirmed its commitment to the deal.

Alere Inc. confirmed analysts’ suspicions that Abbott Laboratories Inc. is reticent about its planned $5.8 billion takeover of the embattled diagnostics company, but the deal appears to be back on track, for now.

Abbott agreed to buy Alere in February for $56 per share, a 50% premium over its pre-deal share price, citing complementary strengths in the point-of-care diagnostics market. (See [A#01160208006]

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