An investigation on behalf of investors of Cynosure, Inc. in connection with the proposed takeover was announced and NASDAQ:CYNO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/21/2017 -- The takeover of Cynosure, Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Cynosure, Inc. (NASDAQ:CYNO), concerning whether the takeover of Cynosure, Inc. by Hologic, Inc for $66.00 per share. is unfair.
Investors who purchased shares of Cynosure, Inc. (NASDAQ:CYNO) and currently hold any of those NASDAQ:CYNO shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Cynosure, Inc. (NASDAQ:CYNO breached their fiduciary duties owed to Cynosure, Inc. investors in connection with the proposed acquisition.
On February 14, 2017, Hologic, Inc. and Cynosure, Inc. (NASDAQ:CYNO) announced they have signed an agreement for Hologic to acquire all outstanding Cynosure, Inc. (NASDAQ:CYNO) shares for $66.00 per share in cash, which corresponds to an equity value of approximately $1.65 billion and an enterprise value of $1.44 billion net of cash.
However, given that following the takeover announcement NASDAQ:CYNO shares rose in the open market to as high as $66.50 per share on February 15, 2017, the investigation concerns whether the offer is unfair to NASDAQ:CYNO stockholders. More specifically, the investigation concerns whether the Cynosure 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 February 17, 2017, NASDAQ:CYNO shares closed at $66.25 per share.
Those who are current investors in Cynosure, Inc. shares have certain options and should contact the Shareholders Foundation.