Deals
Abbott’s Deal for Alere Turns Nasty as Firms Brawl in Court
- Unsealed Alere suit provides new details on faltering merger
- Abbott counters with allegations of Alere coaching witnesses
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Abbott Laboratories’ stalled acquisition of Alere Inc. is turning into an all-out brawl between the two makers of diagnostic testing devices, with both trading accusations of wrongdoing.
In a newly unsealed lawsuit, Alere accused Abbott of trying to back out of the $5.8 billion purchase by dragging its heels with regulators and threatening to make its life a “living hell” by burying the company in paperwork over the merger.