Is $43.50 a fair buyout price for Hi-Tech Pharmacal Co., Inc. (HITK) shareholders?
The board of directors of Hi-Tech Pharmacal Co., Inc. (HITK) announced that it had entered into a definitive merger agreement to be acquired by Akorn, Inc. The proposed transaction values Hi-Tech Pharmacal at roughly $640 million. Under the terms of the agreement, public shareholders of Hi-Tech will receive $43.50 per share in cash for each share of Hi-Tech they own.
Hi-Tech Pharmacal buyout raises an obvious question: Is this the best the HITK board could do?
If you own the common stock of Hi-Tech Pharmacal and are concerned about the transaction and would like to learn more about how to begin a cost free corporate review of this merger, please fill out the contact form on this web page or call Attorney George Pressly at 1-(800)-631-6234.
Hi-Tech Pharmacal board of directors owe HITK shareholders specific duties when selling the company
- Is $640 million a fair market capitalization for Hi-Tech Pharmacal?
- Can a Hi-Tech Pharmacal shareholder get more than $43.50 for each share?
- Did the Hi-Tech Pharmacal board of directors obtain an appraisal from an independent investment bank?
- What did the independent appraisal show?
- Did the board of directors engage other potential suitors?
- Will the proxy statement contain accurate and complete disclosures about future executive compensation packages?
Hi-Tech Pharmacal (HITK) merger or buyout shareholder lawsuit investigation
State security laws provide shareholders a no cost means to question a proposed sale of a publicly traded company. This review process is deemed a shareholder class action and affords at times shareholders an avenue to investigate fully the proposed transaction. At minimum, this process often obtains answers to the above questions. If you own the common stock of Hi-Tech Pharmacal and 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 fill out the contact form on this web page.