An investigation on behalf of investors of HeartWare International Inc (NASDAQ:HTWR) in connection with the proposed takeover was announced and NASDAQ:HTWR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/07/2016 -- An investigation on behalf of investors, who currently hold shares of HeartWare International Inc (NASDAQ:HTWR), was announced concerning whether the takeover of HeartWare International Inc by Medtronic plc for $58.00 per share is unfair to NASDAQ:HTWR stockholders.
Investors who purchased shares of HeartWare International Inc (NASDAQ:HTWR) and currently hold any of those NASDAQ:HTWR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of HeartWare International Inc breached their fiduciary duties owed to NASDAQ:HTWR investors in connection with the proposed acquisition.
June 27, 2016, Medtronic plc (NYSE: MDT) and HeartWare International, Inc. (NASDAQ:HTWR) announced that the companies have entered into a merger agreement under which Medtronic will acquire HeartWare International Inc (NASDAQ:HTWR) in a transaction valued at approximately $1.1 billion. Under the terms of the agreement, Medtronic will commence a tender offer for all outstanding shares of HeartWare International Inc (NASDAQ:HTWR common stock for $58.00 per share, in cash.
However, given that at least one analyst has set the high target price for NASDAQ:HTWR shares at $66.00 per share and given that NASDAQ:HTWR shares traded durgin 2015 as high as $94.47 per share, the investigation concerns whether the offer is unfair to NASDAQ:HTWR stockholders. More specifically, the investigation concerns whether the HeartWare International Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On July 5, 2106, NASDAQ:HTWR shares closed at $57.42 per share.
Those who are current investors in HeartWare International Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com