Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Trubion Pharmaceuticals, Inc.
13 Agosto 2010 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Trubion Pharmaceuticals, Inc. (“Trubion” or the “Company”)
(NASDAQ:TRBN) related to the Company’s agreement to be acquired by
Emergent BioSolutions Inc. (“Emergent”) in a proposed
cash-and-stock transaction potentially valued at approximately $135
million.
Under the terms of the definitive merger agreement entered into
by the parties, each share of Trubion common stock will be
converted into the right to receive an upfront payment of $1.365
per share in cash and 0.1641 shares of Emergent common stock. The
upfront payment values Trubion stock at $4.55 per share, based on
the trading average of Emergent common stock for the five days
prior to signing of the definitive agreement. In addition, Trubion
shareholders will receive one Contingent Value Right (CVR) per
share, which will entitle the holder to receive cash payments based
upon achievement of certain predefined milestones. The total
potential aggregate value of the CVRs is $38.7 million over a
three-year period. The acquisition of is expected to close in
fourth-quarter 2010. The investigation concerns possible breaches
of fiduciary duty and other violations of law related to approval
of the proposed transaction by Trubion’s board of directors.
If you own shares of Trubion, 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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