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Alere and Abbott End Mediation Without Settlement

NEW YORK (GenomeWeb) – In a filing with the US Securities and Exchange Commission this week, Alere said that mediation between itself and Abbott Laboratories has concluded without resolution. 

Alere sued Abbott in August in a move designed to push its potential acquirer to fulfill its obligations under the terms of their merger agreement, and act promptly in obtaining the required anti-trust approvals.

In September, the Delaware Chancery Court recommended that the parties consider mediation, and the companies agreed that they would engage in that manner.

According to Alere's SEC filing, however, "mediation concluded without resolution, and the matter is still pending."

Abbott's shares were fairly flat at $42.29 in afternoon trading on the New York Stock Exchange. Alere's shares fell 1 percent to $43.12.