Jun. 15 at 8:21 PM
$ASRT The key catch is procedure. To preserve appraisal, a holder generally must not tender, or must withdraw before acceptance; must make a written appraisal demand in time; must keep holding through the merger; and then someone must file an appraisal petition within 120 days after the effective time. Assertio says it has no intention of filing that petition for holders, so the burden is on dissenting holders.
The stronger legal themes remain the net-cash value, the Cosette retained upside, the removal/loss of CVR protection, Rolvedon’s strategic value, same-day dosing upside, and whether the board’s process really extracted full value. The company’s own disclosure says the Zydus structure is tender plus second-step merger at
$23.50, with Nasdaq expecting suspension mechanics if the deal proceeds.
So closing may end the stock-market fight, but not necessarily the legal fight.
