The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Prosensa Holding NV (NASDAQ:RNA), was initiated concerning whether the takeover of Prosensa Holding NV. by BioMarin Pharmaceutical Inc for $17.75 per share is unfair to NASDAQ:RNA stockholders.
Investors who purchased shares of Prosensa Holding NV (NASDAQ:RNA) and currently hold any of those NASDAQ:RNA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Prosensa Holding NV breached their fiduciary duties owed to NASDAQ:RNA investors in connection with the proposed acquisition.
On November 24, 2014, BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) and Prosensa Holding N.V. (NASDAQ: RNA) announced that they have entered into an agreement in which BioMarin will offer to purchase all of the outstanding ordinary shares of Prosensa for $17.75 per share, for a total up front consideration of approximately $680 million. In addition, two approximately $80 million contingent milestones are payable for the approval of drisapersen in the U.S. no later than May 15, 2016 and Europe no later than February 15, 2017,respectively.
However, given that at least one analyst has issued a price target for Prosensa stock at $20.10 per share and following the takeover news NASDAQ:RNA jumped in the open market to as high as $22.80 per share on November 26, 2014, the investigation concerns whether the offer is unfair to NASDAQ:RNA stockholders. More specifically, the investigation concerns whether the Prosensa Holding Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On December 9, 2014, NASDAQ:RNA shares closed at $19.14 per share.
Those who are current investors in Prosensa Holding NV shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com