If the Pharmatech lawsuit stays as is, is there an
Post# of 11803
(Total Views: 700)
Posted On: 09/28/2018 9:54:06 AM
Re: frankbell1964 #5640
If the Pharmatech lawsuit stays as is, is there any way they can block or halt the sale in any way possible?
If J&J agrees to an asset sale of Lifescan, DECN can allege that J&J is engaging in 3-card Monte, and file a strike suit that would have a good chance to succeed, thereby grinding the merger process to a halt. But to get to this place, J&J will have to agree and sign the Definitive Agreement, which DECN would use as evidence in any strike suit, and which I expect to emerge sometime in late October. Otherwise a straight up sale would include a cash holdback for contingent liabilities like DECN's.
My gut tells me that J&J has been waiting for a ruling from the Nevada judge to determine their settlement posture. In my humble opinion DECN is playing with house money so it probably matters little to DECN at this point whether the lazy Nevada judge rules for them or against them.
If J&J agrees to an asset sale of Lifescan, DECN can allege that J&J is engaging in 3-card Monte, and file a strike suit that would have a good chance to succeed, thereby grinding the merger process to a halt. But to get to this place, J&J will have to agree and sign the Definitive Agreement, which DECN would use as evidence in any strike suit, and which I expect to emerge sometime in late October. Otherwise a straight up sale would include a cash holdback for contingent liabilities like DECN's.
My gut tells me that J&J has been waiting for a ruling from the Nevada judge to determine their settlement posture. In my humble opinion DECN is playing with house money so it probably matters little to DECN at this point whether the lazy Nevada judge rules for them or against them.
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