NEW YORK, May 21, 2015 /PRNewswire/ -- The fairness to
shareholders of Omnicare, Inc.'s ("OCR" or the "Company") sale to
CVS Health Corporation ("CVS") is being investigated by WeissLaw
LLP. The investigation focuses on possible breaches of
fiduciary duty and other violations of law by the Board of
Directors of OCR. On May 21,
2015, CVS agreed to acquire OCR for $12.7 billion, inclusive of debt. Under the
agreement, OCR shareholders will receive $98 in cash for each OCR share they
own.
WeissLaw is investigating the OCR Board's failure to maximize
shareholder value. Notably, at least one analyst set a price
target of $104 per share, or
$6.00 above the offer price.
The offer price represents a premium of less than 4% over the
Company May 20, 2015 closing price of
$94.63. Moreover, the multiple
to earnings being paid to Omnicare, the market leader in the
institutional pharmacy industry, is less than that paid for another
pharmacy benefits manager in March 2015.
Given these facts, WeissLaw is investigating whether OCR's Board
acted in the best interests of OCR's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with the CVS. If you own OCR
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 or Kelly Keenan 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/contact/report_fraud/.
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SOURCE WeissLaw LLP