An investigation on behalf of investors, who currently hold shares of Abaxis, Inc. (NASDAQ: ABAX), was announced concerning whether the takeover of Abaxis, Inc. (NASDAQ: ABAX) by Zoetis Inc. is unfair to NASDAQ: ABAX stockholders.

The investigation by a law firm concerns whether certain officers and directors of Abaxis, Inc. (NASDAQ: ABAX breached their fiduciary duties owed to Abaxis, Inc. (NASDAQ: ABAX investors in connection with the proposed acquisition.

Union City, CA based Abaxis, Inc. develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. On May 16, 2018, Zoetis Inc. (NYSE:ZTS) and Abaxis, Inc. (NASDAQ:ABAX) announced a merger agreement pursuant to which Zoetis will acquire Abaxis for US $83 per share in cash, or approximately $2.0 billion in aggregate.

However, given that at least one analyst has set the high target price for NASDAQ: ABAX shares at $90.00 per share, the investigation concerns whether the offer is unfair to Abaxis, Inc. (NASDAQ: ABAX stockholders. More specifically, the investigation concerns whether the Abaxis, Inc. (NASDAQ: ABAX Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Abaxis, Inc. reported that its Total Revenue rose from $123.25 million for the 12 months period that ended on March 31, 2016 to $125.84 million for the 12 months period that ended on March 3, 2017 and that its Net Income for those respective time periods increase from $31.63 million to $32.71 million.

Shares of Abaxis, Inc. (NASDAQ: ABAX) closed on May 21, 2018 at $
Per share.