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09.09.2016 21:25
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PR Newswire
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Cepheid Acquisition May Not Be in the Best Interests of CPHD Shareholders
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PR Newswire
NEW YORK, Sept. 9, 2016
NEW YORK, Sept. 9, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Cepheid ("CPHD" or the "Company") in connection with the proposed acquisition of the Company by Danaher Corp. ("Danaher"). On September 6, 2016, the Company announced that it had reached a definitive agreement for Danaher to acquire all outstanding shares of CPHD in a transaction valued at approximately $4 billion. Under the terms of the agreement, CPHD shareholders will receive $53.00 in cash for each CPHD share they own.
WeissLaw is investigating whether CPHD's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the offer price is lower than the Company's 52-week high of $53.19. Additionally, according to Kalorama Information, CPHD has achieved substantial growth, doubling the industry's standard rate to 9% within the past few years. Further, the Company has consistently announced positive financial results. It reported total revenues of $539 million for fiscal year 2015, representing a 15% increase year-over-year when compared to the $470 million reported for the previous year. CPHD also projected that it expected revenues of $629 million for fiscal year 2016, representing a growth of 17% year-over-year.
Given these facts, WeissLaw is investigating whether CPHD's Board acted in the best interests of CPHD's public shareholders to maximize shareholder value prior to entering into the agreement. If you own CPHD shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cepheid-acquisition-may-not-be-in-the-best-interests-of-cphd-shareholders-300325666.html
SOURCE WeissLaw LLP
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