GE said last night they had terminated a proposed $8 billion deal to buy two Abbott Laboratories businesses as they could not agree on final terms.
Abbott shares fell about 3.7 per cent in aftermarket trade.
GE, one of the world's biggest companies, said in January that it would buy two of Abbott's medical diagnostics subsidiaries for $8.13 billion in cash.
Abbott was expected to use the proceeds to pay down debt and buy new products. Abbott Laboratories employs almost 3,500 people in eight different sites in Ireland.
An analyst had said at the time the deal was announced that Abbott had got $2 billion more than expected for the units.
In a statement, Abbott said second-quarter, 2007 and 2008 forecasts, excluding special items, remained unchanged. Abbott will release its financial results on July 18th.
