The latest wrinkle in the APD-ARG hostile-takeover saga (which I’ve posted about on this board because some of the issues pertain to biotech companies) is that the lower-court Judge sent a list of questions to the two companies that reads like a plea for a settlement.
After being overruled by the Delaware Supreme Court, the Judge seems to be hoping that he won’t have to issue another ruling and risk being overruled again. The main outstanding issue is whether ARG’s poison-pill defense should be preserved or struck down.
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