BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of King Pharmaceuticals, Inc. (“King Pharmaceuticals” or the “Company”) (NYSE:KG) related to the Company’s agreement to be acquired by Pfizer Inc. (“Pfizer”). The proposed cash transaction is valued at approximately $3.6 billion.
Under the terms of the definitive merger agreement entered into by the parties, Pfizer will promptly commence a tender offer to purchase all of the outstanding shares of King Pharmaceuticals common stock for $14.25 per share in cash. If the tender offer is successfully completed, it is anticipated that the transaction will close by fourth quarter 2010 or first quarter 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by King Pharmaceuticals’ board of directors.
If you own shares of King Pharmaceuticals, 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 [email protected], or visit our website at http://www.howardsmithlaw.com.
KEYWORDS: United States North America Pennsylvania
INDUSTRY KEYWORDS: Health Pharmaceutical Professional Services Consulting Legal