Kendall Law Group Investigates Medco Health Solutions, Inc.
21 July 2011 - 11:45PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Medco Health Solutions, Inc. (NYSE: MHS) for
shareholders in connection with the proposed acquisition by Express
Scripts, Inc. The national securities firm’s investigation seeks to
determine whether Medco and its Board breached their fiduciary
duties by entering into the agreement without properly shopping for
a deal that would provide better value for shareholders. If you are
a Medco shareholder and would like additional information about
your rights, contact the Kendall Law Group at 877-744-3728 or by
email at investor@kendalllawgroup.com.
On July 21, 2011, the companies announced the definitive merger
agreement under which Medco would be acquired by Express Scripts,
in a transaction valued at approximately $29.1 billion. Under the
terms of the agreement, Medco stockholders will receive $28.80 in
cash and 0.81 Express Scripts shares (NASDAQ: ESRX) for each share
of Medco/MHS common stock held. The offer values Medco at $71.36 a
share, which represents a 28% premium to Medco’s Wednesday closing
price of $55.78. According to Thompson/First Call, analysts have
set a price target as high as $77.00 per share for Medco’s stock.
The firm’s investigation seeks to determine whether Medco and its
Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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