On July 2, 2024, the Delaware Chancery Court in Sciannella v. AstraZeneca dismissed stockholder claims in connection with the $3 billion merger of Viela Bio and Horizon Therapeutics in 2021. The merger was approved by Viela’s stockholders at a share price of $53.00 per share, a 52.8% premium over Viela’s share price at the time.
Source: Delaware Chancery Court Finds a ~27% Founding Stockholder Is Not a Controller