The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Synovis Life Technologies, Inc. (“Synovis”) (NasdaqGS: SYNO) and other violations of state law by the board of directors of Synovis relating to the proposed acquisition of the company by Baxter International Inc. (“Baxter”). The firm’s investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.
On December 13, 2011, Baxter announced that it had entered into a definitive agreement to acquire Synovis for $28.00 per share in cash for each share of Synovis common stock. This represents a total approximate equity value of $325 million, or $260 million after adjusting for net cash.
If you currently own shares of Synovis and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.