Boston Scientific Ruling Clarifies M&A Termination Rights

By Gail Weinstein, Steven Epstein, Matthew Soran and Brian Mangino (January 29, 2020, 5:22 PM EST) -- Channel Medsystems Inc. v. Boston Scientific Corporation, decided Dec. 18, 2019, is the Delaware Court of Chancery's first decision issued since the Delaware Supreme Court's 2018 Akorn Inc. v. Fresenius Kabi AG decision to evaluate whether an acquirer had a right, under a merger agreement, to terminate a pending acquisition on the grounds that there was a material adverse effect or material adverse change in the target company. We use MAE and MAC interchangeably....

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