Delaware Supreme Court Affirms: Verisk Must Move Forward With $2.35 Billion AccuLynx Deal
The Delaware Supreme Court on October 23 affirmed the Court of Chancery's judgment that data analytics company Verisk wrongfully abandoned its $2.35 billion acquisition of roofing software company AccuLynx, and that Verisk remains obligated to move forward with the transaction. In a statement the same day, Verisk said it respects the Supreme Court's order affirming the Chancery Court judgment and will proceed in accordance with it, while noting the transaction remains subject to customary closing conditions and Federal Trade Commission antitrust review, with no guarantee it will be completed.
Verisk, headquartered in Jersey City, New Jersey, is a data analytics and technology partner to the global insurance industry; AccuLynx provides business management software for roofing contractors. The Court of Chancery ruled in August that Verisk had no valid basis to terminate the merger agreement, and Verisk appealed to the state Supreme Court; the October 23 ruling means the company must continue seeking regulatory approval and close the deal if approved.
Verisk said it remains focused on serving insurance industry clients and delivering long-term value for shareholders.
Source: GSM·America
Source: GSM · USA (original Chinese edition)
Photo: 图：Wilmington 的 Leonard L. Williams 司法中心，特拉华州衡平法院所在地。摄影：Farragutful，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: the Leonard L. Williams Justice Center in Wilmington, home of the Delaware Court of Chancery, by Farragutful, CC BY-SA 4.0, via Wikimedia Commons.
