WeissLaw LLP Investigates PSS World Medical, Inc.
October 25 2012 - 12:08PM
Business Wire
WeissLaw LLP, a national class action and shareholder rights law
firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of PSS World Medical,
Inc. (NASDAQ: PSSI) arising from its agreement for PSSI to be
acquired by McKesson Corporation (NYSE: MCK), in a deal valued at
approximately $2.1 billion. Pursuant to the merger agreement,
McKesson will acquire all outstanding shares of PSS World Medical
for $29.00 per share in cash.
WeissLaw LLP is investigating whether PSS World Medical’s Board
is acting to maximize shareholder value for PSS World Medical’s
public shareholders in approving this deal. According to an October
25, 2012, Bloomberg article, McKesson is paying about 11 times
earnings before interest, taxes, depreciation and amortization
(“Ebitda”) for PSS World Medical, below the median of 15 times
Ebitda paid in a survey of more than 20 comparable deals since
2007. Additionally, Gary Corless, PSS World Medical’s president and
chief executive officer, will become chief operating officer of the
combined organization. If you own PSS World Medical shares and
would like more information about your rights as a shareholder or
additional information concerning our investigation, please contact
Michael A. Rogovin either by email at info@weisslawllp.com or by
telephone at (888) 593-4771.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslawllp.com or fill out the form on our
website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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