NEW YORK, Feb. 18, 2014
/PRNewswire/ -- Tripp Levy PLLC, a leading securities and
shareholder rights law firm that represents shareholders throughout
the nation, announces that it is investigating the offer to acquire
Forest Laboratories Inc. (FRX) on behalf of its shareholders.
Actavis plc (ACT) announced that it and Forest have entered into a
definitive agreement under which Actavis will acquire Forest for a
combination of cash and equity valued at approximately $25 billion or $89.48 per share. Specifically, Forest
shareholders will receive $26.04 in
cash and 0.3306 Actavis shares for each share of Forest common
stock.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Senior Management and
Board of Directors of Forest for not acting in the Company's
shareholders' best interests in connection with the sale process.
The investigation seeks to determine if there was an adequate
auction process and if Actavis is underpaying for Forest. Indeed,
analysts have projected that Forest's going forward inherent value
is worth at least $91 per
share. In addition, Forest has no long term debt and has over
$1.6 billion in cash or $6.23 per share.
If you are a shareholder of Forest and would like additional
information regarding this matter, at no cost or expense, please
contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC is a leading securities and shareholder rights
law firm that has extensive experience in mergers and takeovers,
and has assisted in the recovery of hundreds of millions of dollars
for shareholders around the globe. Attorney
advertising. Prior results do not indicate a similar
outcome
SOURCE Tripp Levy PLLC