San Diego, CA -- (SBWire) -- 06/16/2015 --An investor who currently holds NYSE:OCR shares, filed a lawsuit in effort to halt the proposed takeover of Omnicare, Inc. by CVS Health Corporation for $104 per share.
Investors who purchased shares of Omnicare, Inc. (NYSE:OCR) and currently hold any of those NYSE:OCR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:OCR stockholders by agreeing to sell Omnicare, Inc too cheaply via an unfair process to CVS Health Corporation.
On May 21, 2015, CVS Health Corporation (NYSE:CVS) and Omnicare, Inc. (NYSE:OCR) announced that they have entered into an agreement for CVS Health to acquire Omnicare, Inc. (NYSE:OCR) for $98.00 per share in cash, for a total enterprise value of approximately$12.7 billion, which includes approximately $2.3 billion in debt.
However, the plaintiff claims that the proposed consideration NYSE:OCR shareholders will receive is grossly inadequate and undervalues Omnicare, Inc. Indeed, at least one analyst has set its high target price for NYSE:OCR shares at $104.00 per share. In addition, the plaintiff claims that the process is also unfair to NYSE:OCR stockholders.
On June 12, 2015, NYSE:OCR shares closed at $94.93per share.
Those who are current investors in Omnicare, Inc. (NYSE:OCR) 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
Omnicare, Inc. (NYSE:OCR) Shareholder Alert Lawsuit Against Takeover by CVS Health Corporation
A lawsuit was filed for investors in shares of Omnicare, Inc. (NYSE:OCR) in effort to halt the proposed takeover and NYSE:OCR stockholders should contact the Shareholders Foundation.