An investigation on behalf of investors of CIGNA Corporation (NYSE:CI) in connection with the proposed takeover was announced and NYSE:CI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/03/2015 -- An investigation on behalf of investors in NYSE:CI shares was announced concerning whether the takeover of CIGNA Corporation by Anthem, Inc for a value of approximately $188.00 per share is unfair to NYSE:CI stockholders.
Investors who purchased shares of CIGNA Corporation (NYSE:CI) and currently hold any of those NYSE:CI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of CIGNA Corporation breached their fiduciary duties owed to NYSE:CI investors in connection with the proposed acquisition.
On July 24, 2015, Anthem, Inc. (NYSE: ANTM) and Cigna Corporation (NYSE: CI) announced that they have entered into an agreement whereby Anthem will acquire all outstanding shares of Cigna in a cash and stock transaction and Cigna shareholders will receive $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share. The total per share consideration equates to approximately $188.00 for each Cigna share based on Anthem's closing share price on May 28, 2015, valuing the transaction at $54.2 billion on an enterprise basis.
However, given that at least one analyst has set the high target price for NYSE:CI shares at $190.00 per share, the investigation concerns whether the offer is unfair to NYSE:CI stockholders. More specifically, the investigation concerns whether the CIGNA 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 July 30, 2015, NYSE:CI shares closed at $143.90 per share.
Those who are current investors in CIGNA Corporation (NYSE:CI) 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