SAN DIEGO, Aug. 7, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Intersect ENT, Inc. (NASDAQ: XENT) ("Intersect" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Medtronic plc (NYSE: MDT).
On August 6, 2021, Intersect announced that it had entered into a definitive merger agreement with Medtronic. Under the merger agreement terms, Medtronic will acquire all outstanding shares of Intersect for $28.25 per share in cash.
The investigation concerns whether the Intersect 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 Intersect shares of common stock.
If you are a shareholder of Intersect 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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SOURCE Johnson Fistel, LLP