It didn't help that five months after the deal announcement, Alere had to restate annual reports for 2013, 2014 and 2015 over revenue issues, plus “material weaknesses in its disclosure controls and procedures, and its internal control over financial reporting.”

Abbott said the deal might not be completed “on a timely basis, or at all,” proposing a $50 million fee to end the agreement, which Alere turned down, according to news reports at the time. Alere stated in a court filing that Abbot “has breached the merger agreement between the parties by failing to promptly secure antitrust approvals and other regulatory requirements.”


Alere responded by filing suit in Delaware Chancery Court to force its acquirer to go through with the in-process merger.

“Alere will take all actions necessary to protect the interests of Alere shareholders, enforce Alere’s rights under the merger agreement and compel Abbott to complete the transaction in accordance with its terms,” according to a company statement.

In September both companies had gone to mediation, according to Bloomberg. But that has now stalled out.

“Mediation concluded without resolution, and the matter is still pending,” Alere said in the filing to the U.S. Securities and Exchange Commission.

The financial news site added that Alere requested an Oct. 21 meeting, “when its shareholders will be asked to vote to adopt the merger agreement.”

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