Alere filed suit against Abbott Laboratories, claiming the medical device maker failed to get US antitrust clearance for the $5.8 billion merger underway between the two, potentially scuttling the controversial deal.
Abbott failed to “promptly secure antitrust approvals and other regulatory requirements,” Alere said in a filing in Delaware Chancery Court. The suit was filed under seal late Thursday and details weredisclosed in a filing on Friday.
Abbott has tried to get out of the agreement, offering to pay $30 million to $50 million of Alere’s legal costs. That offer was immediately rejected by Alere’s board earlier this year.
Full Content: Chicago Business
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI