Allergan Fined for Failure to Disclose Merger Negotiations with Third Parties During Hostile Bid
Cooley M&A
JANUARY 24, 2017
At what point do “discussions” with a friendly merger party become “negotiations” that are required to be publicly disclosed under the tender offer rules in response to a hostile bid? Allergan maintained that no such disclosure needed to be made because it would have jeopardized the deal.
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