Delaware judge orders Verisk to proceed with $2.35 billion AccuLynx deal

Verisk has been ordered by a Delaware judge to move forward with its planned $2.35 billion acquisition of AccuLynx. The ruling invalidates Verisk's attempt to terminate the deal, with the judge determining that Verisk's own actions were responsible for the circumstances that led to its termination notice. Verisk had sought to exit the transaction, citing a material adverse effect, but the court found this justification insufficient and Verisk's termination invalid.

The acquisition process had already faced delays due to requests for additional information from the Federal Trade Commission (FTC). These requests contributed to the timeline that Verisk later used as a basis for its termination attempt. The court's decision means Verisk must now complete the acquisition as originally agreed upon.

Verisk, a data analytics and risk assessment firm, had agreed to acquire AccuLynx, a software provider for the roofing and exterior contracting industry. The deal, valued at $2.35 billion, was announced with the expectation of closing in the first half of 2023. The judge's ruling directly addresses Verisk's argument that a material adverse effect had occurred, finding that Verisk could not rely on its own conduct to justify such a claim.