Its shares riding high, Concordia Healthcare was ready to snag Britain-based Amdipharm Mercury last September. Then, two weeks after the announcement, the deal faced headwinds as The New York Times alleged pricing abuses in the sector. Hillary Clinton tweeted outrage. A probe was launched, subpoenas issued. Short-sellers piled on with accusations of fraud.
A dizzying eight weeks later, Concordia's shares had fallen 70 per cent – and, yet, the deal closed. According to the lawyers involved, it all amounted to market noise (albeit loud).
Lexpert senior editor David Dias interviews the lawyers on the deal at lexpert.ca/globe.