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BRIEF-Abbott says seeks to terminate Alere acquisition
December 7, 2016 / 4:25 PM / a year ago

BRIEF-Abbott says seeks to terminate Alere acquisition

Dec 7 (Reuters) - Abbott Laboratories :

* Abbott seeks to terminate Alere acquisition

* “Alere is no longer company Abbott agreed to buy 10 months ago”

* In 10 months following Jan. 30, 2016, signing of agreement, Alere has “suffered a series of damaging business developments”

* “We have attempted to secure details and information to assess these issues for months, and Alere has blocked every attempt”

* Abbott filed its complaint seeking termination in delaware court of Chancery

* “Damage to Alere’s business can only be result of a systemic failure of internal controls” Source text for Eikon: Further company coverage:

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