An investigation on behalf of investors of Emisphere Technologies, Inc. (OTC:EMIS) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 12/03/2020 -- An investigation was announced concerning whether the takeover of Emisphere Technologies, Inc. is unfair to OTC: EMIS stockholders.
Investors who purchased shares of Emisphere Technologies, Inc. (OTC: EMIS) and currently hold any of those OTC: EMIS shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Emisphere Technologies, Inc. breached their fiduciary duties owed to OTC: EMIS investors in connection with the proposed acquisition.
Roseland, NJ based Emisphere Technologies, Inc. operates as a commercial stage pharmaceutical and drug delivery company in the United States. On November 06, 2020, Emisphere Technologies, Inc. announced that it has entered into an agreement with Novo Nordisk A/S ("Novo Nordisk"), whereby Novo Nordisk will acquire Emisphere Technologies, Inc. on a cash-free, debt-free basis, for $1.35 billion in cash. The consideration to be paid per share will depend on the amount of cash and debt at closing, but the Company currently estimates it to be approximately $7.82 per share based on approximately 170.9 million fully diluted shares outstanding.
However, given that MHR Fund Management LLC and the directors of Emisphere (collectively owning a majority of the outstanding Emisphere shares) have already agreed to vote their shares in favor of the transaction, the investigation concerns whether the offer is unfair to OTC: EMIS stockholders. More specifically, the investigation concerns whether the Emisphere Technologies 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.
Those who are current investors in Emisphere Technologies, Inc. (OTC: EMIS) shares have certain options and should contact the Shareholders Foundation.
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