Boston Scientific Can't Nix $275M Merger With Device Maker
Law360 (December 18, 2019, 7:39 PM EST) -- The Delaware chancellor ruled Wednesday that Boston Scientific Corp. failed to show that Channel Medsystems Inc. had misrepresented aspects of its business in a way that significantly affected the companies' $275 million merger, meaning Boston Scientific will have to complete the deal.
Chancellor Andre G. Bouchard said revelations of fraud and theft by a Channel executive weren't enough to justify Boston Scientific's termination of the deal in May 2018, which was based on a provision of a November 2017 merger agreement that allowed Boston Scientific to back out if it found Channel had provided untrue information about its business.
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