SAN DIEGO, Dec. 13, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") (NASDAQ: ALXN) breached their fiduciary duties in connection with the proposed sale of the Company AstraZeneca.
On December 12, 2020, Alexion announced that it had entered into a definitive merger agreement with AstraZeneca. Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares. Based on AstraZeneca's closing stock price on December 11, 2020, the implied cash and stock consideration to be received by Alexion stockholders is $175.29 per share. Alexion shareholders will be subject to the future price fluctuation of AstraZeneca's stock price.
The investigation concerns whether the Alexion board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Alexion shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth.
If you are a shareholder of Alexion and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP