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Potter Anderson Team Named “Legal Lions” by Law360 for Fresenius Win in Delaware Chancery Court

October 8, 2018

In Law360’s “Weekly Verdict: Legal Lions & Lambs,” the Potter Anderson team members for pharmaceutical company Fresenius Kabi AG were named Legal Lions.

Serving as Delaware counsel to Paul Weiss Rifkind & Garrison LLP, we represented Fresenius in its effort to terminate its merger agreement with Akorn Inc. The Delaware Court of Chancery made an unprecedented finding that a merger target, Akorn, had experienced a material adverse effect within the meaning of its merger agreement with Fresenius and further held that Akorn’s breaches of a regulatory representation and ordinary course covenant permitted Fresenius to terminate the $4.8 billion merger agreement.

The Potter Anderson lawyers hailed by Law360 were partners Don Wolfe, Mike Pittenger, Brad Davey and Matthew Davis and associate Jake Kirkham.

For more information about the Chancery Court opinion, read Potter Anderson’s client alert titled “Court of Chancery Makes Unprecedented MAE Finding.”