The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Astex Pharmaceuticals, Inc. (“Astex”) (NASDAQ GS: ASTX) and other violations of state law by the board of directors of Astex relating to the proposed acquisition of the Company by Otsuka Pharmaceutical Co., Ltd. (“Otsuka”). The firm’s investigation seeks to determine, among other things, whether the board of directors of Astex breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed acquisition, Astex shareholders will receive $8.50 per share in cash for each share of Astex common stock they own. According to Yahoo! Finance, the mean analyst target price is above the deal price and the high analyst target is $13.00 per share.
If you currently own common stock of Astex and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.