NEW YORK, Dec. 13, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Vascular Solutions, Inc. ("VASC" or the "Company") in connection with the December 2, 2016 proposed acquisition of the Company by Teleflex Incorporated ("Teleflex"). Under the terms of the agreement, the Company's shareholders will receive $56.00 in cash for each VASC share they own.
WeissLaw is investigating whether VASC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement, at least one analyst set a target price of $58.00. Additionally, the deal price offers virtually no premium over VASC's December 1 closing price of $55.10. Further, the Company recently reported positive financial results, announcing that it is "proud to be completing [its] 13th consecutive year of double-digit percentage growth and product revenue." VASC's product-line includes more than 90 proprietary products and services that are expected to significantly accelerate Teleflex's growth in the vascular and interventional businesses. In a conference call following the announcement of the transaction, Teleflex's Chairman and CEO praised the benefits of the acquisition for Teleflex and its shareholders, namely: improvements in revenue growth, margins, earnings, and cash flow capabilities; exposure to new and faster-growing markets; and proprietorship of high growth and high margin products.