An investigation on behalf of investors of iKang Healthcare Group, Inc. (NASDAQ: KANG) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 04/06/2018 -- An investigation on behalf of investors, who currently hold shares of iKang Healthcare Group, Inc. (NASDAQ: KANG), was announced concerning whether the takeover of iKang Healthcare Group, Inc. is unfair to NASDAQ: KANG stockholders.
Investors who purchased shares of iKang Healthcare Group, Inc. (NASDAQ: KANG) and currently hold any of those NASDAQ: KANG 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 iKang Healthcare Group, Inc. breached their fiduciary duties owed to NASDAQ: KANG investors in connection with the proposed acquisition.
On March 26, 2018, iKang Healthcare Group, Inc. (Nasdaq:KANG) announced that it has entered into an agreement and Plan of Merger with IK Healthcare Investment Limited ("Parent"), a special purpose vehicle wholly-owned by one or more affiliates of Yunfeng Capital and Alibaba Group Holding Limited (collectively, the "Sponsors"), and IK Healthcare Merger Limited ("Merger Sub"), a wholly-owned subsidiary of Parent.
Pursuant to the Merger Agreement, IK Healthcare Investment Limited will acquire iKang Healthcare Group, Inc. for a cash consideration of US$41.20 per Class A common share ("Class A Shares") or Class C common share of the Company (together with the Class A Shares, the "Shares") or US$20.60 per American depositary share of the Company (each, an "ADS"), each representing ½ of a Class A Share.
However, the investigation concerns whether the offer is unfair to NASDAQ: KANG stockholders. More specifically, the investigation concerns whether the iKang Healthcare Group 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.
On April 5, 2018, shares of iKang Healthcare Group, Inc. (NASDAQ: KANG) closed at $19.98 per share.
Those who are current investors in iKang Healthcare Group, Inc. (NASDAQ: KANG) 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