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Millipore Corporation Securities Litigation
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Millipore Corporation (NYSE: MIL) shareholder litigation in connection
with alleged unfair takeover offer
On February 28, 2010, Millipore Corporation (“Millipore” or the “Company”)
announced that it agreed to sell the Company to Merck & Co. Inc. ("Merck")
(NYSE: MRK). Under the terms of the transaction, Millipore shareholders
are to receive $107.00 in cash for each share of Millipore common stock
they own for a total transaction value of approximately $7.2 billion, including
debt.
The investigation concerns whether the Millipore Board of Directors
breached their fiduciary duties to Millipore stockholders by failing to
adequately shop the Company before entering into this transaction and
whether Merck is underpaying for Millipore shares, thus unlawfully harming
Millipore stockholders.