Germany's Fresenius Confirms Talks To Buy Generic Drugmaker Akorn

(RTTNews) - Akorn, Inc. (AKRX), a specialty generic pharmaceutical company, confirmed Friday that Akorn is currently in discussions with Fresenius Kabi, a subsidiary of German healthcare company Fresenius SE & Co. KGaA (FSNUF.PK, FSNPF.PK), concerning a potential acquisition of Akorn. Bloomberg reported on the discussions earlier Friday.

After Fresenius confirmed the talks, Akorn shares closed up 18 percent to $29.77.

Entry into a formal agreement of a transaction remains subject to, among other things, approval by the Executive Board and Supervisory Board of Fresenius Management SE and the board of directors of Akorn, Inc.

There can be no assurance any transaction will result from these discussions, or as to the terms of any such transaction, the company noted.

Neither Fresenius SE & Co. KGaA nor Akorn intend to make any additional comments regarding these negotiations unless and until it is appropriate to do so, or a formal agreement has been reached.