NEW YORK, April 23, 2012 /PRNewswire/ -- Harwood
Feffer LLP (www.hfesq.com) is investigating potential claims
against the board of directors of Ardea Biosciences, Inc. ("Ardea"
or the "Company") (NASDAQ: RDEA) concerning the proposed
acquisition of the Company by AstraZeneca in a transaction valued
at approximately $1.26
billion.
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On April 23, 2012, it was
announced that Ardea and AstraZeneca have entered into a definitive
agreement pursuant to which AstraZeneca will acquire Ardea.
Under the agreement, Ardea shareholders will receive $32.00 in cash per share held. At least one
analyst has set a price target for Ardea stock of $40.00 per share.
Our investigation concerns whether the Ardea board of directors
is fulfilling its fiduciary duties, maximizing the value of the
Company, disclosing all material benefits and costs, and obtaining
full and fair consideration for Company shareholders.
If you own Ardea shares and wish to discuss this matter with us,
or have any questions concerning your rights and interests with
regard to this matter, please contact:
Benjamin Sachs-Michaels
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the firm.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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