Akorn Sale Looks Less Certain as Fresenius Gets Cold Feet; Lowering Fair Value Estimate
Fresenius’ announcement that it is performing an independent investigation into potential FDA data integrity requirements at Akorn creates some uncertainty this deal will close. Through a press release, Akorn claims the investigation has not turned up any issues and expects the transaction to proceed. Meanwhile, Fresenius still appreciates the strategic rationale of buying Akorn, but management stated that material issues raised in the investigation could be grounds for withdrawing from the cont...
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