A lawsuit was filed for investors in shares of TeamHealth Holdings Inc (NYSE:TMH) in connection with the proposed takeover and NYSE:TMH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/22/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of TeamHealth Holdings Inc (NYSE:TMH), filed a lawsuit against takeover of TeamHealth Holdings Inc for $43.50 per share.
On October 31, 2016, TeamHealth Holdings Inc announced that it has entered into an agreement to be acquired by funds affiliated with Blackstone and certain co-investors in a transaction valued at approximately $6.1 billion.
Investors who purchased shares of TeamHealth Holdings Inc (NYSE:TMH) and currently hold any of those NYSE:TMH shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:TMH stockholders by agreeing to sell TeamHealth Holdings Inc. too cheaply via an unfair process to funds affiliated with Blackstone.
Under the terms of the agreement Blackstone and its co-investors will acquire all of the outstanding shares of TeamHealth Holdings Inc (NYSE:TMH) common stock for $43.50 per share in cash.
However, the plaintiff claims that the proposed consideration NYSE:TMH shareholders will receive is grossly inadequate and undervalues TeamHealth Holdings Inc. Indeed, at least one analyst has set the high target price for NYSE:TMH shares at $50.00 per share. Furthermore, TeamHealth Holdings Inc reported that its annual Total Revenue rose from over $2.81 billion in 2014 to over $3.59 billion in 2015 and shares of TeamHealth Holdings Inc (NYSE:TMH) reached in 2015 as high as $67.41 per share.
In addition, the plaintiff alleges that the process is also unfair TeamHealth Holdings Inc stockholders. Indeed, JANA Partners LLC has already entered into a voting agreement pursuant to which JANA Partners LLC has agreed to vote its beneficially owned shares, totaling approximately 8 percent of the outstanding shares of TeamHealth common stock, in favor of the transaction.
On December 20, 2016, NYSE:TMH shares closed at $43.00 per share.
Those who are current investors in TeamHealth Holdings 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