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Fly News Breaks for September 12, 2018
FSNUY, AKRX
Sep 12, 2018 | 08:34 EDT
After dialing into yesterday's teleconference scheduled by Judge Laster to discuss the roadmap ahead for Fresenius SE's (FSNUY) attempt to terminate its acquisition of Akorn (AKRX), Deutsche Bank analyst Gregg Gilbert says he did not hear anything to suggest that the judge is leaning one way or the other. It feels like a ruling is not likely to happen in the coming days, Gilbert tells investors in a research note. The analyst continues to assume a ruling will come by sometime in November. He also believes the judge continues to suggest that he knows he will not have the final say, suggesting that an appeal is inevitable. Gilbert keeps a Hold rating on Akorn with a price target of $34.
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