By Business Wire, September 09, 2013, 12:01:00 PM EDT
NEW YORK--(BUSINESS WIRE)--
Kirby McInerney LLP is investigating potential claims against the Board
of Directors of Astex Pharmaceuticals, Inc. ("Astex" or the "Company")
(NASDAQ:ASTX) related to the proposed acquisition of the Company by
Otsuka Pharmaceutical Co., Ltd. ("Otsuka"). Under the terms of the
transaction, Astex shareholders will receive $8.50 in cash for each
share of Astex owned, valuing the transaction at approximately $866
The investigation concerns whether Astex's Board of Directors violated
its fiduciary duties by agreeing to this transaction and whether the
proposed consideration adequately values Astex's common shares. The mean
analyst price target for Astex's common stock is $8.75 per share, while
at least one analyst has set a price target of $13.00 per share.
If you are a shareholder of Astex and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org,
by telephone at (212) 699-1145 or (888) 529-4787, or by filling
out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in
securities, shareholder, whistleblower, antitrust and consumer
litigation. For additional information, please go to www.kmllp.com.
Source: Kirby McInerney LLP