Attorney advertisingBriefCorporate & Governance
Delaware Supreme Court orders Verisk to proceed with $2.35B AccuLynx deal
Responsible attorney: Lou Schwartz, Schwartz & Associates, PC, Atlanta, Georgia. intake@snalawyers.com
The Delaware Supreme Court affirmed a Court of Chancery ruling that Verisk Analytics improperly terminated its $2.35 billion agreement to acquire roofing-software company AccuLynx. The courts found Verisk's own conduct, including ending integration talks with an AccuLynx competitor shortly after signing the deal, caused the FTC's extended antitrust review that pushed the transaction past its outside closing date. Verisk said it will comply with the order and continue pursuing FTC clearance, while cautioning the deal's completion is not guaranteed.
Why it matters. The ruling is a significant application of Delaware's specific-performance doctrine to a regulatory-delay termination dispute, relevant to shareholders and counterparties in other merger agreements with antitrust efforts covenants.
Sources
- Verisk Must Pursue $2.35B AccuLynx Deal, Del. Court Says (Law360) secondary
- Delaware Supreme Court denies Verisk appeal (The Insurer) secondary
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