On May 3, 2021, Anthem, Inc. secured its win over Cigna Corp.'s pursuit of a $1.85 billion breakup fee following the collapse of their proposed $54 billion merger. In a brief order, Justice Karen L. Valihura, writing for the...more
5/6/2021
/ Acquisitions ,
Anthem Insurance ,
Antitrust Investigations ,
Antitrust Litigation ,
CIGNA ,
Corporate Counsel ,
DE Supreme Court ,
Department of Justice (DOJ) ,
Merger Agreements ,
Merger Controls ,
Mergers
On December 18, 2019, the Delaware Court of Chancery issued a 119-page post-trial memorandum opinion 1) rejecting a buyer's argument that the target company had breached representations and warranties in the parties' merger...more
1/7/2020
/ Acquisitions ,
Breach of Contract ,
Buyers ,
Contract Termination ,
Corporate Governance ,
DE Supreme Court ,
Fraudulent Inducement ,
Material Adverse Effects ,
Merger Agreements ,
Mergers ,
Popular ,
Representations and Warranties ,
Sellers
In a 246-page post-trial decision issued this week, the Delaware Court of Chancery ruled that a buyer could terminate a $4.75 billion public company acquisition because of material adverse effects that had occurred at the...more
On August 1, 2017, the Delaware Supreme Court issued an en banc opinion in DFC Global Corporation v. Muirfield Value Partners, L.P., et al., reversing the Delaware Court of Chancery's decision regarding the fair value of DFC...more
On December 19, 2014, the Delaware Supreme Court, in C&J Energy Services, Inc. v. City of Miami General Employees' & Sanitation Employees' Retirement Trust, issued a strongly worded decision refusing to enjoin a change of...more