Akorn (AKRX) : Judge rules for Fresenius in bid to end $4.8 billion Akorn deal

• Sep 2, 2020:  Akorn Inc. has announced the United States Bankruptcy Court for the District of Delaware has approved its sale to the company's existing lenders. The company filed for bankruptcy protection in May 2020.
• Update May 27, 2020 : Akorn Inc. (AKRX) has filed for Chapter 11 bankruptcy.
• The German healthcare company Fresenius Kabi backed out of a $4.75 billion deal in 2018 amid allegations that Akorn's “representations regarding its compliance with regulatory requirements were not true and correct" and because of the "magnitude of the inaccuracies." 

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WILMINGTON, Del (Reuters) - A Delaware judge ruled on Monday that German healthcare group Fresenius SE (FREG.DE) could walk away from its $4.75 billion deal for U.S. drugmaker Akorn Inc (AKRX) and rejected Akorn's claim that the merger agreement had been breached.

Delaware Vice Chancellor Travis Laster said Fresenius validly terminated the merger agreement and he found Akorn's representations regarding its compliance with regulatory requirements were "not true and correct."

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