NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of NEOGEN Corporation (NASDAQ: NEOG) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with 3M Company (NYSE: MMM).
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On December 14, 2021, NEOGEN announced that it had entered into an agreement to merge with 3M in an all-stock transaction valued at approximately $9.3 billion. Pursuant to the merger agreement, 3M will spin off its Food Safety business to 3M shareholders and simultaneously merge it with a wholly owned subsidiary of NEOGEN. At the completion of the merger, NEOGEN will issue a number of shares to 3M shareholders such that 3M shareholders will receive approximately 50.1% of the combined company and existing NEOGEN shareholders will continue to own approximately 49.9% of the combined company. The deal is scheduled to close in the third quarter of 2022.
Bragar Eagel & Squire is concerned that NEOGEN’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for NEOGEN’s stockholders.
If you own shares of NEOGEN and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at mergers@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com
