SAN DIEGO, Aug. 2, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of PharMerica Corporation (NYSE: PMC) ("PharMerica") breached their fiduciary duties in connection with the proposed sale of the Company to KKR; Walgreens Boots Alliance, Inc. will also make a minority investment in the Company. PharMerica operates as an institutional pharmacy services company in the United States. The company offers services to healthcare facilities; pharmacy management services to hospitals; specialty infusion services to patients outside hospitals; and oncology pharmacy services.
On August 2, 2017, PharMerica announced it had signed a definitive merger agreement with KKR. Under the terms of the agreement, PharMerica shareholders will receive $29.25 in cash for each share of PharMerica common stock upon closing of the proposed transaction.
The investigation concerns whether the PharMerica 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 PharMerica shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $31 price target on the stock.
If you are a shareholder of PharMerica and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
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Johnson & Weaver, 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 http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson & Weaver, LLP