Ebix, Goldman Sachs End $820M Merger Deal Over Scrutiny

Law360, Los Angeles (June 19, 2013, 9:41 PM EDT) -- Insurance software developer Ebix Inc. and an affiliate of Goldman Sachs & Co. have agreed to terminate their $820 million merger agreement that was announced in May, Ebix said Wednesday, citing increased scrutiny into allegations of intentional misconduct stemming from shareholder class action lawsuits.

The announcement came after Ebix agreed to be acquired by the Goldman unit in a go-private deal valued at roughly $820 million, including the assumption of all outstanding debt. Under the terms of the merger, Ebix investors would have received $20 per...
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