STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Salix Pharmaceuticals, Ltd. (“Salix” or the “Company”)
(Nasdaq: SLXP) relating to the proposed buyout of the Company by Valeant
Pharmaceuticals International, Inc. (“Valeant”).
On February 22, 2015, Salix and Valeant announced the signing of a
definitive agreement pursuant to which Valeant will acquire Salix in a
transaction valued at approximately $14.5 billion.
Under the terms of the transaction, Salix shareholders are anticipated
to receive $158.00 in cash for each share of Salix common stock held.
The transaction is expected to close, in the second quarter of 2015,
though Salix shareholders will most likely be asked to vote on the
transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether
the Company’s Board of Directors failed to satisfy their duties to
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. In
particular, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for Salix stock at $185.00 per share.
If you currently own common stock of Salix and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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