Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Matrixx Initiatives, Inc., in Connection ...
14 Dezembro 2010 - 10:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Matrixx Initiatives, Inc. (“Matrixx” or the “Company”)
(NASDAQ:MTXX) related to the Company’s agreement to be acquired by
investment funds managed by H.I.G. Capital, LLC (“H.I.G.”), a
private equity firm. The proposed going-private transaction is
valued at approximately $75 million.
Under the terms of the definitive merger agreement entered into
by the parties, affiliates of H.I.G. will commence a cash tender
offer to purchase all of the outstanding shares of Matrixx common
stock, and the associated preferred stock purchase rights, for
$8.00 per share. The tender offer is expected to commence on
December 22, 2010, and expire on the 20th business day following
and including the commencement date, unless extended in accordance
with the terms of the merger agreement. The board of directors of
Matrixx has unanimously approved the proposed transaction. The
investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the proposed
transaction by the Matrixx board of directors.
If you are a shareholder of Matrixx, 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 contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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