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M&A Update: Delaware Court Of Chancery Enforces Oral Agreement To Settle Proxy Contest
In a December 8th decision (Sarissa Capital Domestic Fund LP, et. al. v. Innoviva, Inc.), the Delaware Court of Chancery ruled in favor of Sarissa Capital Domestic Fund LP and certain of its affiliates in concluding that Sarissa and Innoviva, Inc. entered into a binding, oral agreement to settle a proxy contest prior to Innoviva's 2017 annual meeting of shareholders.
United States
3 Jan 2018
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