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Acquisition Of Conceptus, Inc. By Bayer HealthCare LLC May Not Be In The Best Interests Of Conceptus Shareholders

Stocks in this article: CPTS

SAN DIEGO and MOUNTAIN VIEW, Calif., April 29, 2013 /PRNewswire/ --  Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of Conceptus, Inc. (NASDAQ: CPTS) by Bayer HealthCare LLC.  On April 29, 2013, Bayer announced the signing of a merger agreement with Conceptus whereby Bayer will launch a public tender offer to acquire all the shares of Conceptus for $31.00 per share.  The transaction is expected to close by mid-year 2013.  Conceptus is best known for developing the Essure procedure, the only surgery-free permanent birth control method.


The Board of Directors' Actions May Prevent Conceptus Shareholders from Receiving Maximum Value for Their Stock

Robbins Arroyo LLP's investigation focuses on whether the board of directors at Conceptus is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in the merger.  On February 5, 2013, Conceptus released its fourth quarter 2012 and full year 2012 earnings reflecting strong sales and revenues.  Notably, the fourth quarter 2012 experienced substantial growth in: (i) total revenues, which were up 21.5% to $40.7 million, (ii) U.S. sales, up 19.3% to $32.2 million and; (iii) international sales, which experienced a growth of 30.8% to $8.5 million. Further, the full year 2012 experienced similar success, with: (i) total revenue reaching $140.7 million, a 10.8% increase, (ii) U.S. sales growing 13.1% to $109.1 million, and; (iii) international sales up 3.6% percent to $31.6 million. Moreover, Conceptus expects its success to continue, estimating 2013 sales to be in the range of $155 million to $159 million, a growth of 10% to 13% over 2012 sales.

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

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