Fresenius faces battle on rejecting deal for Akorn

Fresenius Kabi has announced plans to abandon its US$4.75 billion deal to acquire Akorn, citing “material breaches of US Food and Drug Administration (FDA) dataintegrity requirements” found during an independent investigation of the US company. But Akorn has hit back against the decision, insisting that the investigation “is not a condition to closing, has not found any facts that would result in a material adverse effect on Akorn’s business, and therefore there is no basis to terminate the transaction”.