SAN DIEGO, Oct. 5, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Eidos Therapeutics, Inc. ("Eidos" or the "Company") (NASDAQ: EIDX) breached their fiduciary duties in connection with the proposed sale of the Company to BridgeBio Pharma, Inc. (NASDAQ: BBIO).
On October 5, 2020, Eidos announced that it had entered into a definitive merger agreement with BridgeBio Pharma. Under the terms of the merger agreement, Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio Pharma common stock or $73.26 in cash per Eidos share, up to an aggregate maximum of $175 million of cash.
The investigation concerns whether the Eidos 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 Eidos shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has an $80.00 price target on the stock.
If you are a shareholder of Eidos 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.
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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