The Shareholders Foundation announces that an investor, who currently holds shares of Cellular Dynamics International Inc (NASDAQ:ICEL), filed a lawsuit in effort to stop the proposed takeover of Cellular Dynamics International Inc by FUJIFILM Holdings Corporation.
Investors who purchased shares of Cellular Dynamics International Inc (NASDAQ:ICEL) and currently hold any of those NASDAQ:ICEL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ICEL stockholders by agreeing to sell Cellular Dynamics International Inc too cheaply via an unfair process to FUJIFILM Holdings Corporation.
On March 30, 2015 FUJIFILM Holdings Corporation and Cellular Dynamics International Inc (NASDAQ:ICEL) announced that the two companies have entered into an agreement whereby Fujifilm Holdings Corporation will acquire Cellular Dynamics International Inc (NASDAQ:ICEL) via an all-cash tender offer to be followed by a second step merger. Fujifilm aims to acquire all issued and outstanding shares of Cellular Dynamics International’s common stock for $ 16.5 per share or approximately $ 307 million (on a fully diluted basis).
However, the plaintiff claims that the proposed consideration NASDAQ:ICEL shareholders will receive is grossly inadequate and undervalues Cellular Dynamics International Inc. Indeed, NASDAQ:ICEL shares traded in early 2014 as high as $19.76 and in late 2013 as high as $21.49 per share. In addition, Cellular Dynamics International Inc reported that annual Total Revenue rose from $2.60 million in 2011 to $16.69 million in 2014. Furthermore, the plaintiff claims that the process is also unfair to NASDAQ:ICEL stockholders.
Shares of Cellular Dynamics International Inc (NASDAQ:ICEL) closed on April 28, 2015, at $16.48 per share.
Those who are current investors in Cellular Dynamics International Inc (NASDAQ:ICEL) 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