BridgeBio Pharma Inc. and three of its directors won their bid to end a lawsuit by a former Eidos Therapeutics Inc. stockholder over the companies’ “interested” January 2021 merger.
SMART Local Unions and Councils Pension Fund failed to allege that the BridgeBio defendants breached any fiduciary duties to their stockholders when, with overlapping and potentially conflicting interests, they started negotiating the economic terms of the deal, Delaware’s Chancery Court said Thursday.
The parties didn’t dispute that the 2021 merger between BridgeBio and Eidos was an interested transaction. BridgeBio was Eidos’s controlling stockholder seeking to acquire the remaining minority shares, and ...
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