Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating the acquisition of Astex Pharmaceuticals, Inc. (“Astex”) (NasdaqGS: ASTX) by Otsuka Holdings Co., Ltd. for shareholders. Under the terms of the proposed deal, valued at approximately $886 million, Astex shareholders will only receive $8.50 in cash for each share of Astex stock owned. The proposal is well below the 52-week high of $9.39 and at least one analyst’s estimated value of $13.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607 or via e-mail at email@example.com. There is no cost or fee to you.
The investigation into the Astex sale is focused on whether minority shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Astex stock, and whether Astex’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to at least one analyst with Yahoo! Finance, the true inherent value of Astex stock could be as high as $13.00 per share.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.