Deals
Abbott Says It’s Auditing Alere Books; Got Partial Response
- Alere shares fall as much as 2.1 percent after Abbott comment
- ‘Exercised its contractual rights to audit’ books, records
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Abbott Laboratories may not be getting any closer to completing its $5.8 billion takeover of Alere Inc. after saying its looking into the books of the target company, which is under investigation by the U.S. for its business practices in overseas markets.
Alere’s shares fell Wednesday, a sign that investors are less certain that any transaction will close. Abbott previously requested to terminate the acquisition, Alere said in April, after Abbott had “serious concerns” about the accuracy of financial information provided by Alere as part of the merger agreement.