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Javelin sues Hospira after acquisition is held up

By Ameet Sachdev | Hospira Inc.’s stalled $145 million acquisition of Javelin
Pharmaceuticals has gone to court.
Javelin said Thursday that it has sued Hospira to compel the Lake Forest
company to complete a merger agreement signed in April. The lawsuit was
filed in the Delaware Court of Chancery.
Hospira has twice extended its tender offer to purchase the shares of
Javelin for $2.20 a share, citing unsatisfied merger conditions. The
last offer expired at midnight Wednesday. The new deadline is midnight
on June 16.

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