San Diego, CA -- (ReleaseWire) -- 05/02/2012 -- Following the offer by Hologic, Inc to acquire Gen-Probe Incorporated at $82.75 per share prompted an investigation on behalf of investors in Gen-Probe Incorporated (NASDAQ:GPRO) shares concerning whether the buyout price and process are unfair to investors in NASDAQ:GPRO.
Investors who purchased shares of Gen-Probe Incorporated (NASDAQ:GPRO) prior to April 30, 2012 and currently hold any of those NASDAQ:GPRO shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 30, 2012, Hologic, Inc. (NASDAQ: HOLX) and Gen-Probe Incorporated (NASDAQ: GPRO) announced that their Boards of Directors have approved an agreement under which Hologic will acquire all of the outstanding shares of Gen-Probe for $82.75 per share in cash, or a total enterprise value of approximately $3.7 billion.
However, NASDAQ:GPRO shares traded as high as $86.66 per share on May 18, 2011 and Gen-Probe’s financial performance increased in recent years. Gen-Probe’s annual Revenue rose from $472.69 in 2008 to $576.23million in 2011.
The investigations by law firms concern whether certain officers and directors of Gen-Probe Incorporated breached their fiduciary duties owed to NASDAQ:GPRO investors in connection with the proposed acquisition. Specifically, the investigation focuses on whether the Gen-Probe 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.
Those who are current investors in Gen-Probe Incorporated (NASDAQ:GPRO) and purchased their NASDAQ:GPRO shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego