Akorn loses bid to hold Fresenius to merger deal; shares tumble [Reuters]
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
Check Earnings Report
US:NASDAQ Investor Relations:
investors.akorn.com
Company Research
Source: Reuters
Akorn loses bid to hold Fresenius to merger deal; shares tumble | Reuters 3 Min Read WILMINGTON, Del (Reuters) - Germany’s Fresenius SE ( FREG.DE ) properly terminated its merger agreement with Akorn Inc ( AKRX.O ), the Delaware Supreme Court said on Friday, sending shares of the U.S generic drugmaker down more than 30 percent. The ruling upholds what was considered a landmark decision from the Delaware Chancery Court in October, which ruled Fresenius could walk away from the deal valued at over $4 billion. That decision came as a surprise since it determined for the first time in Delaware that a buyer had validly terminated a merger after the target’s business took a nosedive, and also because Delaware judges have generally held buyers to merger deals. “In Delaware it’s very hard for a buyer to walk away from a transaction that the buyer has agreed to,” Brooklyn Law School professor Minor Myers told Reuters. “The court is very careful to say (this is) a very unique circumstance w
Show less
Read more
Impact Snapshot
Event Time:
AKRX
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
AKRX alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
AKRX alerts
High impacting AKORN news events
Weekly update
A roundup of the hottest topics