A lawsuit was filed for investors in shares of Aetna Inc (NYSE:AET) in connection with the proposed takeover and NYSE:AET stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/22/2018 -- The Shareholders Foundation announced that an investor, who currently holds shares of Aetna Inc (NYSE:AET), filed a lawsuit against the proposed takeover of Aetna Inc. by CVS Health for a value of approximately $207.94 per share.
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 firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:AET stockholders by agreeing to sell Aetna Inc via an unfair process.
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, plaintiff claims that the proposed consideration NYSE:AET shareholders will receive is grossly inadequate and undervalues Aetna. Indeed, at least one analyst has set the high price target for NYSE:AET shares at $214.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:AET stockholders.
Those who are current investors in Aetna Inc (NYSE:AET) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego