Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Trubion Pharmaceuticals, Inc. (“Trubion” or the “Company”) (NASDAQ:TRBN) related to the Company’s agreement to be acquired by Emergent BioSolutions Inc. (“Emergent”) in a proposed cash-and-stock transaction potentially valued at approximately $135 million.
Under the terms of the definitive merger agreement entered into by the parties, each share of Trubion common stock will be converted into the right to receive an upfront payment of $1.365 per share in cash and 0.1641 shares of Emergent common stock. The upfront payment values Trubion stock at $4.55 per share, based on the trading average of Emergent common stock for the five days prior to signing of the definitive agreement. In addition, Trubion shareholders will receive one Contingent Value Right (CVR) per share, which will entitle the holder to receive cash payments based upon achievement of certain predefined milestones. The total potential aggregate value of the CVRs is $38.7 million over a three-year period. The acquisition of is expected to close in fourth-quarter 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Trubion’s board of directors.
If you own shares of Trubion, 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.