$4.8B Akorn Ruling More Outlier Than Shift At Chancery
By Jeff Montgomery (October 15, 2018, 7:42 PM EDT) -- An unprecedented Delaware Chancery Court finding that Fresenius Kabi AG can terminate a $4.8 billion merger with Akorn Inc. earlier this month appears to be more of a deal outlier than a change in court direction on merger-killing adverse event clauses, some attorneys say.
Vice Chancellor J. Travis Laster's material adverse event, or MAE, rulings — still subject to an expected state Supreme Court appeal — found a termination right for Fresenius on Oct. 1, based on false or inaccurate representations about generic pharmaceutical manufacturer Akorn's conduct and regulatory compliance.
The court also concluded that Fresenius, a global drug and health...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!