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If you purchased shares of Akorn, Inc. (NASDAQ:AKRX) and currently hold any of those NASDAQ:AKRX 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
May 3, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Akorn, Inc. (NASDAQ:AKRX), was announced concerning whether the takeover of Akorn, Inc. by Fresenius Kabi is unfair to NASDAQ:AKRX stockholders.
The investigation by a law firm concerns whether certain officers and directors of Akorn, Inc. breached their fiduciary duties owed to NASDAQ:AKRX investors in connection with the proposed acquisition.
On April 24, 2017, Fresenius Kabi has agreed to acquire Akorn (NASDAQ: AKRX) for approximately $4.3 billion, or $34.00 a share, plus the assumption of approximately $450 million of debt1. The transaction is expected to close by early 2018 and to be accretive in 2018 to Fresenius Group net income and EPS, excluding integration costs.
However, the investigation concerns whether the offer is unfair to NASDAQ:AKRX stockholders. More specifically, the investigation concerns whether the Akorn 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.
Akorn, Inc. reported that its annual Total Revenue rose from $985.08 million in 2015 to over $1.11 billion in 2016 and that its Net Income increased from $150.80 million in 2015 to $184.24 million in 2016.
Shares of Akorn, Inc. (NASDAQ:AKRX ) reached in April 2015 as high as $55.24 per share.
