SAN DIEGO, Oct. 13, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor, who currently holds shares of CareFusion Corporation (CFN), filed a lawsuit in effort to stop the proposed takeover of CareFusion Corporation by Becton, Dickinson and Co for $58.00 per CFN share.
Investors, who purchased shares of CareFusion Corporation (CFN) prior to October 5, 2014, and currently hold any of those CFN shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
On October 5, 2014, Becton, Dickinson and Co. and CareFusion Corporation announced an agreement under which Becton, Dickinson and Co. will acquire CareFusion Corporation (NYSE:CFN) for $58.00 per share in cash and stock, or a total of $12.2 billion. Under the terms of the proposed transaction, CareFusion Corporation (NYSE:CFN) shareholders will receive $49.00 in cash and 0.0777 of a share of Becton, Dickinson and Co. for each share of CareFusion Corporation (CFN), or a total of $58.00 per CFN share based on Becton, Dickinson and Co's closing price as of October 3, 2014.
However, the plaintiff claims that the $58-offer is too low and undervalues CareFusion Corporation. Indeed, at least one analyst has set the high target price for CFN shares at $59 per share. Furthermore, the plaintiff alleges that the process is also unfair to CFN stockholders. The plaintiff claims the transaction contains certain preclusive deal protection devices, such as a no solicitation and a hefty $367 million termination fee provision, that deter other bidders from making a higher offer.
Those who currently hold CareFusion Corporation shares and purchased any of those CFN shares prior to the acquisition announcement have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.