Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Abraxis BioScience, Inc.
01 7월 2010 - 10:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Abraxis BioScience, Inc. (“Abraxis” or the “Company”) (NASDAQ:ABII)
related to the Company’s agreement to be acquired by Celgene
Corporation (“Celgene”). The proposed cash-and-stock transaction is
valued at approximately $2.9 billion.
Under the terms of the definitive merger agreement entered into
by the parties, each share of Abraxis common stock will be
converted into the right to receive an upfront payment of $58.00 in
cash and 0.2617 shares of Celgene common stock. In addition, each
Abraxis share will receive one tradeable Contingent Value Right,
which entitles its holder to receive payments for future regulatory
milestones and commercial royalties. The acquisition is expected to
close in the fourth quarter of 2010. The investigation concerns
possible breaches of fiduciary duty and other violations of law
related to approval of the proposed transaction by the Abraxis
board of directors.
If you own shares of Abraxis, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020
by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
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