tabled an $8 billion agreement for GE to buy Abbott's in-vitro and point-of-care diagnostics business.
The companies said in a short statement late Wednesday that they were unable to reach an agreement on final terms of the deal.
The original agreement, reached in January, called for GE to pay $8.13 billion in cash for the laboratory diagnostics business. Abbott was expected to reap $6 billion in after-tax proceeds from the deal.
Abbott said the cancellation of the deal won't affect its previous EPS guidance for 2007, and its earnings outlook for 2008 remains unchanged.