INVESTOR BUYOUT ALERT - Offer to Acquire Forest Laboratories - Shareholder Rights Law Firm Tripp Levy PLLC Seeks Higher Price And More Information For Shareholders
NEW YORK, Feb. 18, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating the offer to acquire Forest Laboratories Inc. (FRX) on behalf of its shareholders. Actavis plc (ACT) announced that it and Forest have entered into a definitive agreement under which Actavis will acquire Forest for a combination of cash and equity valued at approximately $25 billion or $89.48 per share. Specifically, Forest shareholders will receive $26.04 in cash and 0.3306 Actavis shares for each share of Forest common stock.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Senior Management and Board of Directors of Forest for not acting in the Company's shareholders' best interests in connection with the sale process. The investigation seeks to determine if there was an adequate auction process and if Actavis is underpaying for Forest. Indeed, analysts have projected that Forest's going forward inherent value is worth at least $91 per share. In addition, Forest has no long term debt and has over $1.6 billion in cash or $6.23 per share.
If you are a shareholder of Forest and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of hundreds of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome
SOURCE Tripp Levy PLLC