The fate of another significant merger may rest with the Delaware Court of Chancery deciding if claims of a conflicted financial adviser have enough merit to issue an injunction.
An investment group filed a lawsuit in the Chancery Court seeking to enjoin a proposed $73 million merger between two software companies, ATS Corp. and Salient Federal Solutions. The lawsuit alleges that ATS’s adviser, Sagent Advisors Inc. of New York, has a relationship with Salient and encouraged ATS to accept Salient’s offer instead of a higher per share price from an unidentified suitor.
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