Akorn Extends Lenders Standstill With Aim To Sell Company

Fourth Quarter Losses Narrow But Figures Miss Analyst Targets

US generics company Akorn, which has been struggling since Germany’s Fresenius walked away from a $4.3bn merger three years ago, plans to put itself up for sale under an extended standstill agreement with lenders.

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Akorn plans to put itself up for sale under an extended standstill agreement with lenders • Source: Shutterstock

Embattled Akorn, which went into a tailspin after Germany’s Fresenius backed out of a $4.3bn takeover of the US generics company in April 2018, says it is going to put itself up for sale under an extended standstill agreement with lenders.

Akorn said it may use Chapter 11 protection in order to resolve court action it faces and to achieve a...

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