The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) shares, was launched concerning whether the takeover of Salix Pharmaceuticals, Ltd. by Cosmo Pharmaceuticals S.p.A is unfair to NASDAQ:SLXP stockholders.
Investors who purchased shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) and currently hold any of those NASDAQ:SLXP 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 Salix Pharmaceuticals, Ltd. breached their fiduciary duties owed to NASDAQ:SLXP investors in connection with the proposed acquisition.
On July 8, 2014, Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) and Cosmo Pharmaceuticals S.p.A. (SIX: COPN) announced a merger agreement under which Salix will combine with Cosmo Technologies Limited, a subsidiary of Cosmo Pharmaceuticals S.p.A.
However, the investigation concerns whether the offer is unfair to NASDAQ:SLXP stockholders. More specifically, the investigation concerns whether the Salix Pharmaceuticals 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.
Salix Pharmaceuticals, Ltd. reported that its annual Total Revenue rose from $336.97 million in 2010 to $933.84 million in 2013 and that its Net Loss of $27.06 million in 2010 turned into a Net income of $143.03 million in 2013. Shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) grew from $27.78 per share in September 2011 to as high as $140.02 per share on July 1, 2014.
On July 18, 2014, NASDAQ:SLXP shares closed at $131.85 per share.
Those who are current investors in Salix Pharmaceuticals, Ltd. 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