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US: Alere sues Abbott over $5.8 billion takeover deal

By  |  August 28, 2016

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.

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