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Copyright ©2011 Levi & Korsinsky, LLP
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| Synovis Life Technologies, Inc. |
| Synovis Life Technologies, Inc. (NASDAQ: SYNO) shareholder litigation in connection with alleged unfair takeover offer |
On December 13, 2011, Synovis Life Technologies,
Inc. ("Synovis" or the "Company") announced that it
has agreed to sell the Company to Baxter
International Inc. (NYSE: BAX). Under the terms of
the transaction, Synovis shareholders will receive
Inc. ("Synovis" or the "Company") announced that it
has agreed to sell the Company to Baxter
International Inc. (NYSE: BAX). Under the terms of
the transaction, Synovis shareholders will receive
$28 per share of Synovis stock they own. The transaction has a total approximate value of $325
million.
The investigation concerns whether the Synovis Board of Directors breached their fiduciary duties
to Synovis stockholders by failing to adequately shop the Company before entering into this
transaction and whether Baxter International Inc. is underpaying for Synovis shares, thus
unlawfully harming Synovis stockholders.
million.
The investigation concerns whether the Synovis Board of Directors breached their fiduciary duties
to Synovis stockholders by failing to adequately shop the Company before entering into this
transaction and whether Baxter International Inc. is underpaying for Synovis shares, thus
unlawfully harming Synovis stockholders.
