Abbott Warns on Alere Deal — Market Talk

17:30 ET – Abbott Labs (ABT) says it can’t say whether its $5.8B acquisition of diagnostics-equipment maker Alere (ALR) will be completed “on a timely basis, or at all.” The filing is the strongest sign of buyer’s remorse at ABT following a stream of regulatory headaches at ALR. ABT says ALR has denied it access to information and lists 10 developments at ALR since the two companies inked the deal in February, including a US foreign-bribery investigation into ALR that delayed its 2015 financials for months and has raised the risk ALR may default on its debt. ABT talks about its rights under their merger agreement–the type of language that often foreshadows a legal fight between M&A partners. (liz.hoffman[a]wsj.com; [a]lizrhoffman)

Copyright (c) 2016 Dow Jones & Company, Inc.