An investigation on behalf of investors of Allergan, Inc. (NYSE:AGN) in connection with the proposed takeover was announced and NYSE:AGN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/29/2014 -- An investigation on behalf of investors, who currently hold shares of Allergan, Inc. (NYSE:AGN) shares, was announced concerning whether the takeover of Allergan, Inc. by Valeant Pharmaceuticals International for a value of approximately $152.88 per share is unfair to NYSE:AGN stockholders.
Investors who purchased shares of Allergan, Inc. (NYSE:AGN) and currently hold any of those NYSE:AGN shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of (NYSE:AGN breached their fiduciary duties owed to NYSE:AGN investors in connection with the proposed acquisition.
On April 22, 2014, Allergan, Inc. (NYSE: AGN) confirmed that it has received an unsolicited proposal from Valeant Pharmaceuticals International, Inc.to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares and $48.30 in cash per share of common stock of the Company. Based on Valeant's closing stock price on April 21, 2014, Allergan shareholders would have received consideration valued at approximately $152.88 per share.
However, given that following the takeover news NYSE:AGN shares reached in the open market on April 22, 2014 as high as $165.35 per share, the investigation concerns whether the offer is unfair to NYSE:AGN stockholders. More specifically, the investigation concerns whether the Allergan Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Allergan, Inc. reported that its annual Total Revenue rose from over $4.491 billion in 2010 to over $6.3 billion in 2013 and that its respective Net Income increased from $0.60 million to $985.10 million. Shares of Allergan, Inc. (NYSE:AGN) grew from $43.75 per share in May 2009 to as high as $131.43 per share in March 2014.
On April 25, 2014, Allergan, Inc. shares closed at $168.15 per share.
Those who are current investors in Allergan, Inc. (NYSE:AGN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego