Akorn (AKRX) : Fresenius may back out of deal if probe finds breaches

• BAD HOMBURG, Germany (Reuters) - Fresenius (FREG.DE) may back out of the planned acquisition of Akorn (AKRX) if its probe into data integrity at the U.S. maker of liquid generic drugs yields evidence of wrongdoing, the German healthcare group's chief executive said.

 

Fresenius (FSNUY) says conducting independent investigation into alleged breaches of FDA data integrity requirements relating to product development at Akorn 
The Management and Supervisory Boards of Fresenius will assess the findings of that investigation. The consummation of the transaction may be affected if the closing conditions under the merger agreement are not met. Fresenius does not intend to provide further updates as the investigation proceeds. Fresenius continues to seek FTC clearance.

Akorn issues statement - does not believe the investigation should affect the closing of the transaction with Fresenius (FSNUY)
"Akorn and Fresenius Kabi AG, with the assistance of outside consultants, are investigating alleged breaches of FDA data integrity requirements relating to product development at the Company. To date, the Company's investigation has not found any facts that would result in a material impact on Akorn's operations and the Company does not believe this investigation should affect the closing of the transaction with Fresenius. The Company does not intend to provide further updates as the investigation proceeds. The Company is continuing to work to obtain regulatory clearance for the transaction."

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