Health & Fitness
Health and Fitness
Health and Fitness
Mon, August 1, 2011
Sun, July 31, 2011
Fri, July 29, 2011 Law Firm Brower Piven Announces Investigation of Allied Healthcare International Inc.
STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Allied Healthcare International Inc. (aAllieda) (NASDAQ: AHCI) and other violations of state law by the board of directors of Allied relating to the proposed acquisition of the company by Saga Group Limited (aSagaa). The firma™s investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.
On July 29, 2011, Allied announced that it had entered into a definitive merger agreement to be acquired by Saga for $3.90 per share in cash, or an aggregate purchase price of approximately $175 million. According to the press release, the transaction is expected to close in the fourth quarter of 2011.
The press release states that the merger price represents a 59% premium to Allieda™s closing price on July 28, 2011. However, as recent reports explain, Allied is a consistent earner, has a strong balance sheet, generates high returns on capital, is scalable, and is benefiting from many trends in the UK healthcare sector, economy, and demographics.
If you currently own shares of Allied and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
