NEW YORK, Feb. 18, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating the offer to acquire Forest Laboratories Inc. (FRX) on behalf of its shareholders. Actavis plc (ACT) announced that it and Forest have entered into a definitive agreement under which Actavis will acquire Forest for a combination of cash and equity valued at approximately $25 billion or $89.48 per share. Specifically, Forest shareholders will receive $26.04 in cash and 0.3306 Actavis shares for each share of Forest common stock.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Senior Management and Board of Directors of Forest for not acting in the Company's shareholders' best interests in connection with the sale process. The investigation seeks to determine if there was an adequate auction process and if Actavis is underpaying for Forest. Indeed, analysts have projected that Forest's going forward inherent value is worth at least $91 per share. In addition, Forest has no long term debt and has over $1.6 billion in cash or $6.23 per share.
If you are a shareholder of Forest and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLCNew York, New York Toll free: 1-877-772-3975 Email: email@example.com www.tripplevy.com Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of hundreds of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome SOURCE Tripp Levy PLLC
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV