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New York, NY -- (SBWIRE) -- 11/13/2012 -- Barrett Johnston, LLC announced that it is investigating the Board of Directors of Titanium Metals Corp (NYSE:TIE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Precision Castparts Corp. (PCC). Under the terms of the agreement, which was approved by the boards of directors of both companies, TIMET shareholders will only receive $16.50 per share in cash. The investigation concerns whether the transaction may undervalue the Company and result in a substantial loss for many TIMET shareholders. In its last two press releases announcing its quarterly results the Company has noted its ability for sustained growth over the next several years. For example, in its press release announcing its 3Q12 results on the same day of the announcement of the merger agreement, Bob O'Brian, TIMET's President and CEO commented that the commercial aerospace sector is poised for sustained growth over the next several years. Moreover, several analysts have set a median price target for TIMET of $17.00, a high target of $20.00 and at least one other financial site has set a 12 month consensus price target of $18.50, all of which are above the $16.50 merger price.
How Should Investors React To TIE Now? Find Out Here
Oxigene (NASDAQ:OXGN)said a clinical study of its experimental eye-disease treatment Zybrestat showed its potential for treating age-related macular degeneration, a common malady. Shares rose in after-hours trading. OXGN is +0.1146 - +34.21% from the previous close of $0.335. It traded between $0.3551 - 0.50 with total traded volume of 1303842 shares. Keep a close eye on OXGN, as the stock has been showing unusual moves over the past weeks. At Current market price, OXGN has recovered +45.03% from its 52-week Low of 0.31 and has Pulled back -67.18% from its 52-week high of 1.37.
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The law firm Finkelstein Thompson LLP announced that it is investigating potential claims on behalf of shareholders of the CreXus Investment Corp(NYSE:CXS) , concerning the proposed acquisition of the Company by Annaly Capital Management Inc. Under the terms of the transaction, CreXus shareholders would receive $12.50 per share in cash. The total value of the transaction is approximately $839 million. The investigation is focused on the potential unfairness of the consideration to shareholders, the process by which the Company’s Board of Directors is considering the transaction, and potential conflicts of interest among CreXus’ Board members. Shares of Crexus Investment (NYSE: CXS) are trading at $12.40 and is +10.32% of its 50-day Moving Average price of $11.24 and +20.91% from its 200-day Moving Average price of $10.2559. The average trading volume is 459547 shares and its market capitalization is $950.2M.
Can CXS Continue To Move Higher? Find Out Here
Dynavax Technologies Corporation (NASDAQ: DVAX) rose 0.24% to close at $4.18 on high volumes. Against the usual average daily volume of 2.3 million shares, about 6.1 million shares changed hands. A clinical stage biopharmaceutical company, it focuses on the prevention and treatment of infectious and inflammatory diseases. An advisory committee of the FDA is to meet on November 15 and assess the company’s HBV vaccine. If the advisory committee approves the product, the FDA is to make a final decision before February 24, 2013.
How Should Investors Trade DVAX Now? Don’t Trade DVAX until you Read this Trend Analysis Report
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