Milberg Announces Investigation Of Unfair Low Price In Cubist’s Acquisition Of Optimer

Milberg LLP is currently investigating the proposed acquisition of Optimer Pharmaceuticals, Inc. (“Optimer”) (NasdaqGS: OPTR) by Cubist Pharmaceuticals, Inc. (“Cubist”), as being potentially unfair to Optimer’s public shareholders.

On July 30, 2013, Optimer announced that they signed a merger agreement pursuant to which Cubist will acquire all of the outstanding shares of Optimer common stock for $10.75 per share in cash, or approximately $535 million on a fully diluted basis. Optimer stockholders will also receive a Contingent Value Right (CVR), which is expected to be publicly traded, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID®(fidaxomicin) are achieved, or a total or total transaction value of up to $801 million on a fully diluted basis. The transaction has been approved by the boards of directors of both companies.

Even if the DEFICID sales target is achieved, the resulting total consideration of $15.75 would still be 10% below analysts’ $17.50 mean target price and 6.3% lower than Optimer’s recent 52-week high of $16.80 on May 15, 2013.

Milberg’s investigation primarily concerns the potential unfairness of the consideration being provided to Optimer shareholders and possible conflicts of interest of Optimer’s senior management.

Persons with relevant information, and Optimer shareholders with questions about this investigation, are invited to fill out the form on the right, contact our Firm by calling 866.582.8140, or contacting the Milberg LLP attorneys listed below.

Kent A. BronsonMilberg LLPOne Pennsylvania Plaza, 49th Fl.New York, NY 10119-0165(212) 594-5300 kbronson@milberg.com

Gloria Kui MelwaniMilberg LLPOne Pennsylvania Plaza, 49th Fl.New York, NY 10119-0165(212) 594-5300 gmelwani@milberg.com

Milberg LLP has been representing consumers and investors for more than four decades and serves as lead counsel in federal and state courts throughout the United States.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Copyright Business Wire 2010

If you liked this article you might like

The Deal: Cubist Commits $1.6B to Bolster Antibiotics Portfolio

The Deal: Cubist Commits $1.6B to Bolster Antibiotics Portfolio

Comcast, Cubist Jump Pre-market Amid Cautious Trading

Comcast, Cubist Jump Pre-market Amid Cautious Trading

Morning Briefing: 10 Things You Should Know

Morning Briefing: 10 Things You Should Know

Cubist Becomes Dominant Antibiotic Seller With Optimer, Trius Buys

Cubist Becomes Dominant Antibiotic Seller With Optimer, Trius Buys

5 Stocks Poised for Breakouts

5 Stocks Poised for Breakouts