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If you purchased shares of Affymetrix, Inc. (NASDAQ:AFFX) and currently hold any of those NASDAQ:AFFX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
January 15, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Affymetrix, Inc. (NASDAQ:AFFX), was announced concerning whether the takeover of Affymetrix, Inc. by Thermo Fisher Scientific Inc for $14.00 per share is unfair to NASDAQ:AFFX stockholders.
The investigation by a law firm concerns whether certain officers and directors of Affymetrix, Inc. breached their fiduciary duties owed to NASDAQ:AFFX investors in connection with the proposed acquisition.
On January 8, 2016, Thermo Fisher Scientific Inc. and Affymetrix, Inc. (NASDAQ:AFFX), announced that their boards of directors have approved Thermo Fishers acquisition of Affymetrix for $14.00 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:AFFX at $15.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:AFFX stockholders. More specifically, the investigation concerns whether the Affymetrix 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.
Affymetrix, Inc. reported that its annual Total Revenue rose from $330.40 million in 2013 to $349.02 million in 2014 and that its net Loss declined from $16.33 million in 2013 to $3.83 million in 2014.
Shares of Affymetrix, Inc. (NASDAQ:AFFX) closed on January 15, 2016 at $13.91 per share.
