An investigation on behalf of investors of Aetna Inc (NYSE:AET) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 12/11/2017 -- The takeover of Aetna by CVS is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold NYSE:AET shares, over whether the takeover of Aetna Inc. by CVS Health for a value of approximately $207.94 per share is unfair.
Investors who purchased shares of Aetna Inc (NYSE:AET) and currently hold any of those NYSE:AET 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 officers and directors of Aetna Inc breached their fiduciary duties owed to NYSE:AET investors in connection with the proposed acquisition.
On December 3, 2017, CVS Health (NYSE: CVS) and Aetna (NYSE: AET), announced the execution of a merger agreement under which CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock. Under the terms of the merger agreement, Aetna shareholders will receive $145.00 per share in cash and 0.8378 CVS Health shares for each Aetna share. Based on a closing price of $75.12 per NYSE:CVS share on December 1, 2017 investors in NYSE:AET shares will receive a value of approximately $207.94 per NYSE:AET shares.
However, given that at least one analyst has set the high price target for NYSE:AET shares at $214.00 per share, the investigation concerns whether the offer is unfair to NYSE:AET stockholders. More specifically, the investigation concerns whether the Aetna 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 December 8, 2017, NYSE:AET shares closed at $182.73 per share.
Those who are current investors in Aetna Inc (NYSE:AET) 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