Akorn Inc (AKRX.OQ)
7 Dec 2018
Fri, Dec 7 2018
WILMINGTON, Del Akorn Inc said late on Friday its Chief Executive Officer would retire following the drugmaker's inability to salvage its takeover deal with Germany's Fresenius SE .
The global pharmaceutical company Fresenius received a rude shock in the summer of 2017 when Akorn, the generic drugmaker Fresenius had agreed to acquire for $4.75 billion, reported its quarterly financial results. The results were terrible – far worse than Fresenius’ gloomiest projection. Fresenius CEO Stephan Sturm considered the Akorn results the biggest personal embarrassment of his career. Within weeks, the company hired Paul Weiss Rifkind Wharton & Garrison to advise it could w
WILMINGTON, Del Germany's Fresenius SE won a rare court ruling allowing the healthcare group to walk away from its $4.75 billion takeover of Akorn Inc , sparking a more than 50 percent fall in the U.S. generic drugmaker's shares.
WILMINGTON, Del, Oct 1 Germany's Fresenius SE won a rare court ruling allowing the healthcare group to walk away from its $4.75 billion takeover of Akorn Inc , sparking a more than 50 percent fall in the U.S. generic drugmaker's shares.
WILMINGTON, Del, Oct 1 A Delaware judge ruled on Monday that German healthcare group Fresenius SE could walk away from its $4.75 billion deal for U.S. drugmaker Akorn Inc and rejected Akorn's claim that the merger agreement had been breached.
The class action watchdogs at the Competitive Enterprise Institute lost a battle this week in their challenge to a $322,500 mootness fee for shareholders' lawyers who sued over Akorn Corporation’s M&A deal with Fresenius Kabi AG. U.S. District Judge Thomas Durkin of Chicago denied a motion by CEI’s Ted Frank, an Akorn shareholder, to intervene in litigation in which Akorn agreed to pay the fee. Judge Durkin rejected CEI’s argument that Frank has an interest, as a shareholder, in assu
BERLIN Fears that a legal dispute with U.S. drugmaker Akorn could extend into next year overshadowed improved guidance from Germany's Fresenius SE for its Kabi generics business.