Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Synovis Life Technologies, Inc. (“Synovis” or the “Company”) (NASDAQ: SYNO) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Baxter International, Inc. in an all-cash deal valued at about $325 million. Under the terms of the proposed transaction, Synovis stockholders will receive $28.00 in cash for each share of Synovis common stock they own.
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Whether Synovis’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Synovis’s shares and by how much this proposed transaction undervalues the Company to the detriment of Synovis’s shareholders are the key focus of this investigation.
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