SAN DIEGO, Oct. 6, 2014 (GLOBE NEWSWIRE) -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of CareFusion Corporation by Becton, Dickinson and Company. On October 5, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Becton Dickinson will acquire all outstanding shares of CareFusion for $49.00 in cash and 0.0777 of a share of Becton Dickinson stock, or a total of $58.00 per share.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/carefusion-corporation-october-2014
Is the Proposed Acquisition Best for CareFusion and Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board of directors at CareFusion is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
As an initial matter, on August 7, 2014, CareFusion released its fourth quarter and fiscal 2014 financial results, reporting strong revenue and operating income. In particular, the company reported fourth quarter revenue of $1.12 billion, an increase of 24% compared to the same quarter in 2013. Further, CareFusion reported a 14% increase in operating income of $194 million, compared to $170 million in the fourth quarter of 2013. In addition, the company reported adjusted income from continuing operations of $164 million, a 36% increase compared to the prior year period.
In commenting on these results, Kieran Gallahue, CareFusion's Chairman and CEO, noted, "With every business growing in the fourth quarter, we had a very strong finish to the fiscal year and created good momentum for fiscal 2015… Our solid organic revenue growth demonstrates the value our products bring to health care facilities and patients, even in times of increasing financial pressures for U.S. hospitals."
In light of these facts, Robbins Arroyo LLP is examining CareFusion's board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
CareFusion shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. CareFusion shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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