Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Inhibitex, Inc. (“Inhibitex” or the “Company”) (NASDAQ: INHX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Bristol-Myers Squibb Company (NYSE: BMY) in an all-cash deal valued at about $2.5 billion. Under the terms of the proposed transaction, Inhibitex stockholders will receive $26.00 in cash for each share of Inhibitex common stock they own. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
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Whether Inhibitex’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 Inhibitex’s shares and by how much this proposed transaction undervalues the Company to the detriment of Inhibitex’s shareholders are the key focus of this investigation.
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If you own common stock in Inhibitex and wish to obtain additional information, please visit us at
or contact Juan E. Monteverde, Esq. either via e-mail at
or by telephone at (877) 247-4292 or (212) 983-9330.
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