An investigation on behalf of investors of Abaxis, Inc. (NASDAQ: ABAX) in connection with the proposed takeover was announced and NASDAQ: ABAX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/22/2018 -- The takeover of Abaxis, Inc. is under investigation over possible wrongdoing.
Investors who purchased shares of Abaxis, Inc. (NASDAQ: ABAX) and currently hold any of those Abaxis, Inc. (NASDAQ: ABAX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Abaxis, Inc. (NASDAQ: ABAX breached their fiduciary duties owed to Abaxis, Inc. (NASDAQ: ABAX investors in connection with the proposed acquisition.
On May 16, 2018, Zoetis Inc. (NYSE:ZTS) and Abaxis, Inc. (NASDAQ:ABAX) announced a merger agreement pursuant to which Zoetis will acquire Abaxis for US $83 per share in cash, or approximately $2.0 billion in aggregate.
However, given that at least one analyst has set the high target price for NASDAQ: ABAX shares at $90.00 per share, the investigation concerns whether the offer is unfair to Abaxis, Inc. (NASDAQ: ABAX stockholders. More specifically, the investigation concerns whether the Abaxis, Inc. (NASDAQ: ABAX 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.
Shares of Abaxis, Inc. (NASDAQ: ABAX) closed on May 21, 2018 at $83.00 per share.
Those who are current investors in Abaxis, Inc. (NASDAQ: ABAX) 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