An investigation on behalf of investors of Medivation Inc (NASDAQ:MDVN) in connection with the proposed takeover was announced and NASDAQ:MDVN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/01/2016 -- An investigation on behalf of investors, who currently hold shares of Medivation Inc (NASDAQ:MDVN), was announced concerning whether the takeover of Medivation Inc by Pfizer Inc. for $81.50 per share is unfair to NASDAQ:MDVN stockholders.
Investors who purchased shares of Medivation Inc (NASDAQ:MDVN) and currently hold any of those NASDAQ:MDVN 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 directors of Medivation Inc breached their fiduciary duties owed to NASDAQ:MDVN investors in connection with the proposed acquisition.
August 22, 2016, Pfizer Inc. (NYSE:PFE) and Medivation, Inc. (NASDAQ:MDVN) announced that they have entered into a merger agreement under which Pfizer will acquire Medivation for $81.50 a share in cash for a total enterprise value of approximately $14 billion.
However, given that at least one analyst set the high target price for NASDAQ:MDVN at $82.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:MDVN stockholders. More specifically, the investigation concerns whether the Medivation 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.
Medivation Inc reported that its annual total Revenue rose from $272.94 million in 2013 to $943.26 million in 2015 and that its Net Loss of $42.61 million in 2013 turned into a Net Income of $244.72 million in 2015.
Shares of Medivation Inc (NASDAQ:MDVN) closed on August 31, 2016 at $80.56 per share.
Those who are current investors in Medivation 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