US court backs Kabi’s retreat from US$4.75bn Akorn merger

Fresenius Kabi has won a legal battle absolving the company of completing its US$4.75 billion merger agreement with Akorn, with a US court ruling that the German firm had proper grounds to back away from the deal. The US-based ophthalmics and injectables firm, which had filed suit in order to compel Kabi to consummate the transaction, intends to appeal the ruling, while Kabi acknowledged that “the judgement is not yet final”.