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Fly News Breaks for August 22, 2017
FMS, AKRX
Aug 22, 2017 | 09:08 EDT
Gabelli says that Akorn's (AKRX) stock fell below $32 last week on worries that Fresenius (FMS) could restructure or break its deal to acquire the company. However, the firm still expects the deal to close, by early next year, as it does not believe that Fresenius' "disappointing" Q2 results or subpoenas related to the pricing of individual drugs would trigger the deal's material adverse event clause. Gabelli keeps a Hold rating on Akorn.
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