A lawsuit was filed by investor in shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV) in effort to stop the proposed takeover and NASDAQ:MWIV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/10/2015 -- An investor, who currently holds shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV), filed a lawsuit in effort to halt the proposed takeover of MWI Veterinary Supply, Inc. by AmerisourceBergen for $190 per share.
Investors who purchased shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV) and currently hold any of those NASDAQ:MWIV shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MWIV stockholders by agreeing to sell MWI Veterinary Supply, Inc.too cheaply via an unfair process to AmerisourceBergen.
On January 12, 2015, AmerisourceBergen (NYSE:ABC) and MWI Veterinary Supply, Inc. (NASDAQ:MWIV) announced that they have entered into a merger agreement for AmerisourceBergen to acquire MWI Veterinary Supply, Inc. Under the terms and conditions of the merger agreement, AmerisourceBergen, through a new wholly-owned subsidiary, will make an all cash tender offer for all of the outstanding shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV) at a price of $190.00 per share, representing a $2.5 billion fully diluted equity value.
However, the plaintiff claims that the $offer is too low and undervalues MWI Veterinary Supply, Inc. Indeed, MWI Veterinary Supply, Inc. reported that its Total Revenue rose from over $1.56 billion for the 12 months period that ended on Sept. 30, 2011 to over $2.98 billion for the 12 months period that ended on Sept. 30, 2014 and that its respective Net Income rose from $42.58 million to $71.96 million. Shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV) grew from $61.02 per share in November 2011 to as high as $186.26 per share in January 2014.
In addition, the plaintiff claims that the process is also unfair to NASDAQ:MWIV stockholders
Shares of MWI Veterinary Supply, Inc. (NASDAQ:MWIV) closed on February 6, 2015 at $189.91 per share.
Those who are current investors in MWI Veterinary Supply, Inc. (NASDAQ:MWIV) 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