Abbott, Alere Settle Watchdogs' Issues With $5.3B Deal
Law360, New York (September 28, 2017, 8:11 PM EDT) -- U.S. and Canadian antitrust regulators revealed Thursday that pharmaceutical giant Abbott Laboratories and diagnostic service provider Alere Inc. have settled the agencies' concerns over Abbott's $5.3 billion bid for Alere.
Under the deals with the Federal Trade Commission and the Canada's Competition Bureau, Massachusetts-based Alere has agreed to sell off its Epoc blood gas testing system and Ottawa facilities to Siemens AG and Alere's Triage cardiac marker testing system and a San Diego facility to Quidel Corp.
Illinois-based Abbott unveiled its $5.8 billion bid for Alere in February 2016 in an effort to bolster Abbott's point-of-care and diagnostic offerings. A month...
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