An investigation for investors in NASDAQ:XNPT shares was announced concerning whether the takeover of XenoPort, Inc. by Arbor Pharmaceuticals, LLC for $7.03 per share is unfair to NASDAQ:XNPT stockholders.
Investors who purchased shares of XenoPort, Inc. (NASDAQ:XNPT) and currently hold any of those NASDAQ:XNPT shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of XenoPort, Inc. breached their fiduciary duties owed to NASDAQ:XNPT investors in connection with the proposed acquisition.
On May 23, 2016, Arbor Pharmaceuticals, LLC and XenoPort, Inc. (NASDAQ:XNPT) announced that they have signed an agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million.
However, given that at least one analyst has set the high target price for NASDAQ:XNPT shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:XNPT stockholders. More specifically, the investigation concerns whether the XenoPort Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On June 6, 2016, NASDAQ:XNPT shares closed at $7.02 per share.
Those who are current investors in NASDAQ:XNPT shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego