BALA CYNWYD, Pa., April 25, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Spectrum Pharmaceuticals, Inc. (Nasdaq – SPPI)
Under the terms of the Merger Agreement, Spectrum will be acquired by Assertio Holdings, Inc. (“Assertio”) (Nasdaq - ASRT). Spectrum stockholders will receive a fixed exchange ratio of 0.1783 shares of Assertio common stock for each share of Spectrum common stock they own, implying an upfront value of $1.14 per Spectrum share (approximately $248 million) based on Assertio’s stock price on April 24, 2023. Additionally, Spectrum stockholders will receive one CVR per Spectrum share entitling them to receive up to an additional $0.20 per share in total (approximately $43 million), payable in cash or stock at Assertio’s election. Following the close of the transaction, Assertio stockholders will own approximately 65% of the combined company, and Spectrum stockholders will own approximately 35%, on a fully diluted basis.The investigation concerns whether the Spectrum Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Assertio is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/spectrum-pharmaceuticals-inc-nasdaq-sppi/.
BELLUS Health Inc (Nasdaq – BLU)
Under the terms of the Merger Agreement, BELLUS will be acquired by GSK Plc (NYSE - GSK). BELLUS shareholders will receive $14.75 cash for each BELLUS common share, for a total equity value of approximately $2.0 billion. The investigation concerns whether the BELLUS Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether GSK Plc is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/bellus-health-inc-nasdaq-blu/.
Prometheus Biosciences, Inc. (Nasdaq – RXDX)
Under the terms of the agreement, Prometheus will be acquired by Merck (NYSE - MRK). Prometheus shareholders will receive $200.00 cash for each Prometheus common share, for a total equity value of approximately $10.8 billion. The investigation concerns whether the Prometheus Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Merck is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/prometheus-biosciences-inc-nasdaq-rxdx/.
Univar Solutions Inc. (NYSE – UNVR)
Under the terms of the agreement, Univar will be acquired by funds managed by affiliates of Apollo (NYSE – APO) (the “Apollo Funds”) in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion. The agreement provides that Univar Solutions shareholders will receive $36.15 per share in cash. The investigation concerns whether the Univar Solutions Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the Apollo Funds are paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/univar-solutions-inc-nyse-unvr/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
