GE, Abbott put ax to acquisition

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General Electric announced yesterday that GE and Abbott have agreed to mutually terminate their agreement relating to GE’s acquisition of Abbott’s primary in-vitro and point-of-care diagnostics businesses. GE and Abbott worked diligently to complete the transaction but were unable to reach agreement on final terms and conditions. As a result, they agreed it was in the best interests of both companies to mutually terminate their agreement and discussions.