FOREST SHAREHOLDERS NOTICE: Johnson & Weaver, LLP Announces Investigation of the Forest Laboratories, Inc. Proposed Acquisiti...
February 18 2014 - 9:43AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether the Board of Directors of Forest
Laboratories, Inc. (NYSE: FRX) breached its fiduciary duties in
connection with the Company’s proposed acquisition by Actavis plc
(NYSE: ACT).
On February 18, 2014, Actavis announced that it had entered into
a definitive merger agreement to acquire Forest Laboratories for a
combination of cash and equity valued at approximately $25 billion
or $89.48 per Forest share ($26.04 in cash and 0.3306 Actavis
shares for each share of Forest common stock).
The investigation concerns whether Forest’s board members failed
to satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock. W. Scott Holleman, an
attorney for Johnson & Weaver, stated that, “Actavis’ offer
appears to be inadequate and not in the best interest of the
shareholders.” Holleman continued, “I believe Forest stock should
warrant a higher price and question the deal fairness considering
Actavis is expecting immediate double-digit accretion to
earnings.”
If you are a Forest shareholder and would like additional
information concerning your legal rights, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California and New York. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext.
118jimb@johnsonandweaver.com
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