This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acquisition Of PROLOR Biotech, Inc. By OPKO Health, Inc. May Not Be In The Best Interests Of PROLOR Shareholders

SAN DIEGO, Calif. and NES-ZIONA, Israel, April 24, 2013 /PRNewswire/ --  Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of PROLOR Biotech, Inc. (NYSE MKT: PBTH) by OPKO Health, Inc. (NYSE: OPK).  On April 24, 2013, PROLOR and OPKO announced the signing of a definitive merger agreement whereby PROLOR shareholders will receive 0.9951 shares of OPKO common stock for each share of PROLOR common stock owned, a value of approximately $7.00 per PROLOR share.  The transaction is expected to close during the second half of 2013.


The Board of Director's Actions May Prevent PROLOR Shareholders from Receiving Maximum Value for Their Stock

Robbins Arroyo LLP's investigation focuses on whether the board of directors at PROLOR is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in the merger or whether they are seeking to benefit themselves.  Notably, Dr. Philip Frost is both Chairman of the Board of PROLOR and CEO and the Chairman of OPKO. Given this fact, the firm is investigating whether the merger was motivated by conflicts of interest in light of Dr. Frost's significant position in both companies.  

Is the Acquisition Best for PROLOR and Its Shareholders?

Moreover, PROLOR is currently in the process of developing multiple products, all of which could lead to be very financially successful for the company.  Specifically, PROLOR's Human Growth Hormone, used for the long-term treatment of children and adults with growth failure, is scheduled for Phase III trials and has a claimed potential market opportunity of $3 billion. Further, PROLOR also has two products currently in Phase I testing, both of which have claimed potential market opportunities of $2 billion: GLP-1, used in the treatment for Type II Diabetes which is believed to have a dramatically better weight-loss profile than GLP-1 therapies currently available, and Factor VIIa and Factor IX, both used in the treatment of Hemophilia.

The firm is examining the board of directors' decision to sell PROLOR now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.   

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.19 -0.46%
FB $118.15 0.08%
GOOG $699.29 0.52%
TSLA $211.98 -4.80%
YHOO $37.05 2.90%


Chart of I:DJI
DOW 17,688.65 +37.39 0.21%
S&P 500 2,056.15 +5.03 0.25%
NASDAQ 4,735.0280 +9.3890 0.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs