MILWAUKEE, Aug. 7, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Cambrex (NYSE: CBM) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Cambrex to Permira.
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Ademi & O'Reilly, LLP alleges Cambrex's financial outlook is improving and yet shareholders will receive only $60 for each share of Cambrex common stock they own. Permira is acquiring Cambrex at a substantial discount. The merger agreement unreasonably limits competing bids for Cambrex by prohibiting solicitation of further bids, and imposing a termination penalty if Cambrex accepts a superior bid. Cambrex insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Cambrex's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Cambrex.
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SOURCE Ademi & O'Reilly, LLP