Law Firm Brower Piven Announces Investigation of Allied Healthcare International Inc.
29 Julho 2011 - 12:09PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Allied Healthcare International Inc.
(“Allied”) (NASDAQ: AHCI) and other violations of state law by the
board of directors of Allied relating to the proposed acquisition
of the company by Saga Group Limited (“Saga”). The firm’s
investigation seeks to determine, among other things, whether the
board breached their fiduciary duties by failing to maximize
shareholder value.
On July 29, 2011, Allied announced that it had entered into a
definitive merger agreement to be acquired by Saga for $3.90 per
share in cash, or an aggregate purchase price of approximately $175
million. According to the press release, the transaction is
expected to close in the fourth quarter of 2011.
The press release states that the merger price represents a 59%
premium to Allied’s closing price on July 28, 2011. However, as
recent reports explain, Allied is a consistent earner, has a strong
balance sheet, generates high returns on capital, is scalable, and
is benefiting from many trends in the UK healthcare sector,
economy, and demographics.
If you currently own shares of Allied and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925
Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and other
class action cases of over 60 years.
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