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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

(Logo:   http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs