Inhibitex, Inc. Investor Lawsuit Against Takeover by Bristol-Myers Squibb Company Announced by Shareholders Foundation
(firmenpresse) - SAN DIEGO, CA -- (Marketwire) -- 01/16/12 -- The Shareholders Foundation, Inc. announces that an investor filed a lawsuit in State Court for current stockholders of Inhibitex, Inc. (INHX) in effort to stop the proposed takeover of Inhibitex, Inc by Bristol-Myers Squibb Company for $26.00 per share.
If you purchased shares of Inhibitex, Inc. (INHX) prior to Jan 7, 2012 and currently hold those INHX stocks, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at or call +1 (858) 779-1554.
On January 7, 2012, Bristol-Myers Squibb Company and Inhibitex, Inc. (INHX) announced that the companies have signed an agreement under which Bristol-Myers Squibb will acquire Inhibitex for $26.00 per share in cash pursuant to a cash tender offer and second step merger.
However, the plaintiff alleges that the proposed transaction is the product of a flawed process and offered price is unfair to INHX stockholders because it does not represent Inhibitex's intrinsic value. Additionally the plaintiff claims that the defendants by agreeing to a no solicitation, a matching right, and a $75.87 million termination fee provision have ensured that no other bidder will emerge with a competing proposal. Furthermore, so the lawsuit, certain shareholders of Inhibitex, including certain of its directors and its CEO with beneficial ownership of approximately 17% of Inhibitex' outstanding shares, have already entered into an agreement with Bristol-Myers Squibb to support the transaction and to tender their shares in the tender offer.
Those who currently are investors in Inhibitex, Inc. (INHX) shares and purchased their shares before the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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Datum: 16.01.2012 - 08:35 Uhr
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News-ID 1073120
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