An investigation on behalf of investors of Sirona Dental Systems, Inc. (NASDAQ:SIRO) in connection with the proposed takeover was announced and NASDAQ:SIRO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/05/2015 -- An investigation for shareholders in shares of Sirona Dental Systems, Inc. (NASDAQ:SIRO) was announced concerning whether the takeover of Sirona Dental Systems, Inc. by DENTSPLY International Inc for a value of approximately $97.28 per share is unfair.
September 15, 2015 DENTSPLY International Inc. (NASDAQ: XRAY) and Sirona Dental Systems, Inc. (NASDAQ:SIRO) announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in an all-stock merger of equals.
Investors who purchased shares of Sirona Dental Systems, Inc. (NASDAQ:SIRO) and currently hold any of those NASDAQ:SIRO 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 Sirona Dental Systems, Inc. breached their fiduciary duties owed to NASDAQ:SIRO investors in connection with the proposed acquisition.
Under the terms of the agreement, Sirona Dental Systems, Inc. (NASDAQ:SIRO) shareholders will receive 1.8142 shares of DENTSPLY for each existing Sirona Dental Systems, Inc. (NASDAQ:SIRO) share. Based on a closing price of $53.62 per share of DENTSPLY International Inc. shares on September 14, 2015 shareholders in Sirona Dental Systems, Inc. (NASDAQ:SIRO) will receive a value of approximately $97.28 per share.
However, given that at least one analyst has set the high target price at $120.00 for NASDAQ:SIRO shares and that NASDAQLSIRO shares traded as high as $104.99 per share in August 2015, the investigation concerns whether the offer is unfair to NASDAQ:SIRO stockholders. More specifically, the investigation concerns whether the Sirona Dental Systems 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 October 1, 2015, NASDAQ:SIRO shares closed at $92.84 per share.
Those who are current investors in Sirona Dental Systems, Inc. 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