On 4 September 2024, Vice Chancellor Lori Will of the Court of Chancery – one of Delaware’s three constitutional courts and home to the majority of company v. company litigation in the US – published a 145-page opinion arguing that Johnson & Johnson breached the terms of its 2019 merger agreement with Auris Health.
J&J Versus Auris: Robotics Fallout With Big Implications For M&A
J&J’s “pants down” moment with Auris could permanently change how medtech M&A is conducted. Build-to-buy arrangements, which leave companies’ destinies in the hands of their owners, are likely to replace current earn-out models.
