NEW YORK, Dec. 5, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Aetna Inc. ("AET" or the "Company") (NYSE : AET ) in connection with the proposed acquisition of the Company by CVS Health Corporation ("CVS") (NYSE : CVS ). Under the terms of the agreement, the Company's shareholders will receive $145 in cash and 0.8378 of a share of CVS for each AET share they hold, representing consideration of $203.80, based on CVS's December 5 trading price of $70.19.
WeissLaw is investigating whether AET's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $214.00, nearly $10 more than the per-share consideration. Additionally, the Company announced strong earnings in the third quarter of 2017, reporting quarterly adjusted earnings of $2.45 per share, representing annual growth of approximately 18% when compared to the same period of the previous year.
Finally, CVS anticipates that this transaction will create a leading healthcare platform with highly diversified, strong and stable cash flows. The deal is also expected to generate substantial synergies, with the potential synergies of $750 million in the second full year.
Given these facts, WeissLaw is investigating whether AET's Board acted in the best interests of AET's public shareholders to maximize shareholder value prior to entering into the agreement. If you own AET shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or visit our website, http://www.weisslawllp.com/aetna-inc/
SOURCE WeissLaw LLP