An investigation on behalf of investors of Patient Safety Technologies Inc (OTCMKTS:PSTX) in connection with the proposed takeover was announced and:PSTX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/28/2014 -- An investigation on behalf of investors, who currently hold shares of Patient Safety Technologies Inc (OTCMKTS:PSTX) shares, was announced concerning whether the takeover of Patient Safety Technologies Inc by Stryker Corporation for $2.22 per share is unfair to OTCMKTS:PSTX stockholders.
Investors who purchased shares of Patient Safety Technologies Inc (OTCMKTS:PSTX) and currently hold any of those OTCMKTS:PSTX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Patient Safety Technologies Inc breached their fiduciary duties owed to OTCMKTS:PSTX investors in connection with the proposed acquisition.
On Dec. 31, 2013, Patient Safety Technologies Inc announced an agreement with Stryker Corporation (NYSE:SYK) by which Stryker will acquire Patient Safety Technologies in an all cash transaction for $2.22 per common share, with a total transaction value of approximately $120 million including estimated fees and expenses.
However, given that traded as recently as July 2013 as high as $2.26 per share, the investigation concerns whether the $2.22-offer is unfair to OTCMKTS:PSTX stockholders. In addition, the investigation concerns whether the Patient Safety Technologies 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.
Patient Safety Technologies Inc reported that its annual Total Revenue rose from $9.46 million in 2011 to $17.59 million in 2012.
Shares of Patient Safety Technologies Inc (OTCMKTS:PSTX) closed on Jan. 27, 2014 at $2.19 per share.
Those who are current investors in Patient Safety Technologies Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com