INVESTOR ALERT: Brannon Law Firm, L.L.C. is Investigating the Proposed Tender Offer/Merger of MAP Pharmaceuticals, Inc. by Al...
January 23 2013 - 4:32PM
Business Wire
Brannon Law Firm, L.L.C., a Metairie, Louisiana based securities
litigation law firm, announces that it is commencing an
investigation into the Board of Directors of MAP Pharmaceuticals,
Inc. ("MAP" or the "Company") (Nasdaq: MAPP) to determine whether
they have breached their fiduciary duties and other possible
violations of state law in connection with the proposed tender
offer/merger of MAP to Allergan, Inc. (NYSE: AGN). Under the terms
of the transaction, Allergan will tender $25 per share to MAP
shareholders. If Allergan does not hold 90% of more of the
outstanding MAP shares following completion of the offer, the
Company may hold a special shareholders’ meeting to obtain
stockholder approval of the merger. The per share offer represents
a total equity value of approximately at $985 million, on a
fully-diluted basis.
The investigation is focused on the timing of the transaction,
the mechanism effected to achieve the transaction, and the
potential unfairness of the consideration to MAP shareholders and
whether MAP’s Board of Directors acted in the shareholders’ best
interest and properly shopped the company before entering into the
acquisition agreement with Allergan, Inc. The value of MAP stock
was expected to continue increasing upon the anticipated approval
of its new drug for migraine treatment - LEVADEX. At least one
analyst set a price target for MAP stock at $30.00 per share by the
end of 2013.
If you have information relevant to this investigation, or if
you own common stock in MAP and wish to discuss your legal rights
as a MAP shareholder, you may, without obligation or cost to you,
e-mail or call Paul M. Brannon (PMB@BrannonLawFirm.com) at (504)-456-8696.
Map Pharmaceuticals, Inc. (MM) (NASDAQ:MAPP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Map Pharmaceuticals, Inc. (MM) (NASDAQ:MAPP)
Historical Stock Chart
From Jul 2023 to Jul 2024