Alere Lawsuit Accuses Abbott of 'Buyer's Remorse' in Proposed Merger
Alere Inc (ALR.N) alleges Abbott Laboratories (ABT.N) is trying to stymie its planned $5.8 billion takeover of the diagnostics company by purposefully delaying key submissions to anti-trust regulators, according to a lawsuit made public on Tuesday.
Alere claims in its complaint that Abbott has avoided responding to a second request by the Federal Trade Commission in a bout of "buyer's remorse" spurred by a desire to free up capital for Abbott's other major planned deal - a $24 billion acquisition of rival St. Jude Medical (STJ.N).
Alere claims in its complaint that Abbott has avoided responding to a second request by the Federal Trade Commission in a bout of "buyer's remorse" spurred by a desire to free up capital for Abbott's other major planned deal - a $24 billion acquisition of rival St. Jude Medical (STJ.N).