The Shareholders Foundation announces that an investor who currently holds shares of Omnicare, Inc. (NYSE:OCR), filed a lawsuit in effort to halt the proposed takeover of Omnicare, Inc. by CVS Health Corporation for $104 per share.
Investors who purchased shares of Omnicare, Inc. (NYSE:OCR) and currently hold any of those NYSE:OCR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:OCR stockholders by agreeing to sell Omnicare, Inc too cheaply via an unfair process to CVS Health Corporation.
On May 21, 2015, CVS Health Corporation (NYSE:CVS) and Omnicare, Inc. (NYSE:OCR) announced that they have entered into an agreement for CVS Health to acquire Omnicare, Inc. (NYSE:OCR) for $98.00 per share in cash, for a total enterprise value of approximately$12.7 billion, which includes approximately $2.3 billion in debt.
However, the plaintiff claims that the proposed consideration NYSE:OCR shareholders will receive is grossly inadequate and undervalues Omnicare, Inc. Indeed, at least one analyst has set its high target price for NYSE:OCR shares at $104.00 per share. Furthermore, Omnicare, Inc. reported that its annual Total Revenue rose from over $6.01 billion in 2013 to over $6.41 billion in 2014 and that its Net Loss of $43.43 million in 2013 turned into a Net Income of $144.53 million in 2014. Shares of Omnicare, Inc. (NYSE:OCR) grew from $6.042 per share in October 2014 to as high as $95.09 per share on May 20, 2015. In addition, the plaintiff claims that the process is also unfair to NYSE:OCR stockholders.
Those who are current investors in Omnicare, Inc. (NYSE:OCR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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92108 San Diego