San Diego, CA -- (ReleaseWire) -- 06/16/2014 -- An investigation on behalf of investors, who currently hold shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX), was announced concerning whether the takeover of Idenix Pharmaceuticals Inc . by Merck for $24.50 per shares is unfair to NASDAQ:IDIX stockholders.
Investors who purchased shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) and currently hold any of those NASDAQ:IDIX shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Idenix Pharmaceuticals breached their fiduciary duties owed to NASDAQ:IDIX investors in connection with the proposed acquisition.
On June 9, 2014, Merck (NYSE:MRK) and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX) announced that the companies have entered into an agreement under which Merck will acquire Idenix Pharmaceuticals, Inc for $24.50 per share in cash
However, given that at least one analyst has set the high target price for NASDAQ:IDIX shares at $25.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:IDIX stockholders. More specifically, the investigation concerns whether the Idenix 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.
Idenix Pharmaceuticals Inc reported that its annual Total Revenue rose from $6.95 million in 2011 to $69.66 million in 2012 and that its respective Net Loss declined from $51.98 million to $32.40 million.Shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) grew from $2.80 per share in March 2011 to as high as $14.42 in 2012.
On June 13, 2014, NASDAQ:IDIX shares closed at $23.64 per share.
Those who are current investors in Idenix Pharmaceuticals Inc (NASDAQ:IDIX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego