WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of PSS World Medical, Inc. (NASDAQ: PSSI) arising from its agreement for PSSI to be acquired by McKesson Corporation (NYSE: MCK), in a deal valued at approximately $2.1 billion. Pursuant to the merger agreement, McKesson will acquire all outstanding shares of PSS World Medical for $29.00 per share in cash.
WeissLaw LLP is investigating whether PSS World Medical’s Board is acting to maximize shareholder value for PSS World Medical’s public shareholders in approving this deal. According to an October 25, 2012,
article, McKesson is paying about 11 times earnings before interest, taxes, depreciation and amortization (“Ebitda”) for PSS World Medical, below the median of 15 times Ebitda paid in a survey of more than 20 comparable deals since 2007. Additionally, Gary Corless, PSS World Medical’s president and chief executive officer, will become chief operating officer of the combined organization. If you own PSS World Medical shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at
or by telephone at (888) 593-4771.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at
or fill out the form on our website,
Attorney Advertising. Past results do not guarantee a similar outcome.