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Fly News Breaks for April 27, 2018
FSNUY, AKRX
Apr 27, 2018 | 12:25 EDT
After reviewing the Akorn's (AKRX) legal complaint against Fresenius SE (FSNUY), RBC Capital analyst Randall Stanicky still sees a path for the deal to close. "We are not yet convinced that issues raised so far are at the level of deal break," Stanicky tells investors in a research note. There "clearly appears" to be data integrity issues at Akorn, but do they constitute a level of materiality that would allow the deal to be broken, Stanicky wonders. The analyst has a Sector Perform rating on Akorn shares with a $25 price target. The stock in midday trading is up 8% to $14.69. He expects Fresenius to respond to Akorn in court and for the process to take between one and three months.
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