Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Home Diagnostics, Inc. (“Home Diagnostics” or the “Company”) (Nasdaq:HDIX) related to the Company’s agreement to be acquired by Nipro Corporation (“Nipro”). The transaction is valued at approximately $215 million, including assumed debt.
Under the terms of the definitive merger agreement entered into by the parties, Nipro will acquire all outstanding shares of Home Diagnostics’ common stock for $11.50 per share in cash by means of a cash tender followed by a second-step merger in which untendered Home Diagnostics’ shares will be acquired at the same $11.50 net cash price per share. All Home Diagnostics stock options and stock appreciation rights will receive cash equal to the excess, if any, of $11.50 over their exercise price. The parties expect the tender offer to commence on or about February 10, 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the merger agreement by the Home Diagnostics board of directors.
If you own shares of Home Diagnostics, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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