Akorn shares fall after Delaware court rules in favor of Fresenius [Reuters]
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Source: Reuters
Akorn shares fall after Delaware court rules in favor of Fresenius | Reuters 1 Min Read WILMINGTON, Del (Reuters) - The Delaware Supreme Court said in a court filing on Friday that Germany’s Fresenius SE ( FREG.DE ) properly terminated its merger agreement with Akorn Inc ( AKRX.O ), sending shares of the U.S generic drugmaker down more than 30 percent. Friday’s ruling upholds a decision from the Delaware Chancery Court in October that Fresenius could walk away from the deal valued at over $4 billion. Fresenius terminated the deal in April, a year after agreeing to acquire Akorn, and cited evidence of misconduct in reporting of drug development data to U.S. healthcare regulators. Akorn’s shares were down 35.8 percent at $3.61 on Friday morning. Reporting by Tom Hals in Wilmington, Delaware and Tamara Mathias in Bengaluru All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved. Akorn shares fall a
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