BOSTON, July 10, 2012 /PRNewswire/ -- Block &
Leviton LLP, a Boston-based law
firm representing investors nationwide, is investigating possible
breaches of fiduciary duties by the Board of Directors of Amylin
Pharmaceuticals, Inc. ("Amylin" or the "Company") (NASDAQ: AMLN)
concerning its announced merger with Bristol-Myers Squibb Company
("Bristol-Myers") (NYSE: BMY).
Under the terms of the merger, Bristol-Myers will acquire Amylin
for $31.00 per share in cash, which
is a paltry premium of approximately 9% over the Company's share
price on June 29, 2012, the day
before the merger was announced. However, as one reporter
noted: "What is interesting is a side deal [between Amylin
and AstraZeneca] that lowers this merger price for Bristol-Myers
Squibb considerably." For example, "If you do not include the
debt and partner payments [from AstraZeneca], it almost sounds like
Bristol-Myers Squibb is getting to buy Amylin for less than
$1.8 billion. If you include
the debt and obligations, then Bristol-Myers Squibb is getting the
company for just under $3.5
billion."
Block & Leviton's investigation seeks to determine, among
other things, whether Amylin's Directors breached their fiduciary
duties by failing to maximize shareholder value in the proposed
merger with Bristol-Myers. For example, the high target price
by analysts for Amylin common stock is $32.00 per share.
If you have any information relevant to this investigation, or
have questions about your legal rights, please contact Jason M. Leviton of Block & Leviton LLP at
(617) 398-5620 or email him at Jason@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors
for violations of securities laws. The firm's lawyers have
collectively been prosecuting securities cases on behalf of
investors for over 50 years.
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Contact:
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BLOCK
& LEVITON LLP
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Jason M.
Leviton, Esq.
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(617)
398-5620
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Jason@blockesq.com
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This may constitute attorney advertising.
SOURCE Block & Leviton LLP