NEW YORK, Jan. 18, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Ariad
Pharmaceuticals, Inc. (NASDAQ: ARIA) ("ARIA" or the
"Company") in connection with the proposed acquisition of the
Company by Takeda Pharmaceutical Company Limited ("Takeda").
On January 9, 2017, Takeda
announced a definitive agreement to acquire all outstanding shares
of ARIA in a transaction valued at approximately $5.2 billion. Under the terms of the
agreement, the Company's shareholders will receive $24.00 in cash for each ARIA share they own.
WeissLaw is investigating whether ARIA's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the acquisition, which has been unanimously approved by
the Board of Directors of the Company, is a strategic transaction
which heavily favors the interests of Takeda and its shareholders
at the expense of ARIA's shareholders. According to Takeda's
CEO, the transaction not only strengthens its position in
hematology, it also expands Takeda's presence in the very important
solid tumor and non-small cell lung cancer treatment segment which
it intends on leveraging to generate future growth.
Given these facts, WeissLaw is investigating whether ARIA's
Board acted in the best interests of ARIA's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own ARIA shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/ariad-pharmaceuticals-inc/
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SOURCE WeissLaw LLP