An investigation on behalf of investors of Par Pharmaceutical Companies, Inc. (NYSE:PRX) in connection with the takeover was announced and NYSE:PRX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/17/2012 -- An investigation on behalf of investors in Par Pharmaceutical Companies, Inc. (NYSE:PRX) shares was announced concerning whether the offer to acquire Par Pharmaceutical Companies, Inc. and the takeover process are unfair to investors in NYSE:PRX shares.
Investors who purchased shares of Par Pharmaceutical Companies, Inc. (NYSE:PRX) prior to July 13, 2012, and currently hold any of those NYSE:PRX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Par Pharmaceutical Companies, Inc. breached their fiduciary duties owed to NYSE:PRX investors in connection with the proposed acquisition.
On July 16, 2012, Par Pharmaceutical Companies, Inc. (NYSE: PRX) announced that it has entered into a merger agreement to be acquired by an affiliate of TPG in a transaction with an equity value of $1.9 billion. Under the terms of the agreement, Par Pharmaceutical Companies shareholders will receive $50.00 in cash for each share of Par common stock.
However, the investigation for NYSE:PRX investors concerns whether the proposed transaction is unfair to Par Pharmaceutical Companies stockholders. Specifically, the investigation focuses on whether the Par Pharmaceutical 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 Par Pharmaceutical Companies, Inc. (NYSE:PRX) and purchased their Par Pharmaceutical shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com