Delaware Supreme Court Affirms MAE Ruling Allowing Fresenius To Terminate Akorn Merger

The Delaware Supreme Court has upheld a landmark lower court decision that allowed Fresenius Kabi AG to walk away from a planned $4.75 billion merger with Akorn Inc. based on the existence of a material adverse effect.

The state Supreme Court found the record adequately supported the lower court’s finding that Fresenius properly terminated the merger because Akorn’s breach of its regulatory representations and warranties gave rise to a material adverse change to Akorn’s business. Read more.