Fresenius SE & Co. KGaA: Delaware court upholds Fresenius' termination of merger agreement with Akorn
Fresenius SE & Co. KGaA / Key word(s): Legal Matter
Delaware court upholds Fresenius' termination of merger agreement with Akorn
In the lawsuit by Akorn, Inc. against Fresenius for the consummation of the April 2017 merger agreement the Court of Chancery in the U.S. state of Delaware today ruled in favor of Fresenius. The judgment is not yet final.
Fresenius terminated the merger agreement due to Akorn's failure to fulfill several closing conditions. An independent investigation initiated by Fresenius had revealed, among other things, material breaches of FDA data integrity requirements relating to Akorn's operations. Akorn responded by suing in the Court of Chancery in Delaware for the consummation of the agreement.
Fresenius SE & Co. KGaA,
represented by Fresenius Management SE,
The Management Board
Bad Homburg v.d.H., October 1, 2018
|Company:||Fresenius SE & Co. KGaA|
|61352 Bad Homburg v.d.H.|
|Phone:||+49 (0)6172 608-2485|
|Fax:||+49 (0)6172 608-2488|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|End of Announcement||DGAP News Service|