May 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Anacor Pharmaceuticals Inc (NASDAQ:ANAC), was announced concerning whether the takeover of Anacor Pharmaceuticals Inc. by Pfizer Inc for $99.25 per share is unfair to NASDAQ:ANAC stockholders.

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

On May 16, 2016, Pfizer Inc. (NYSE:PFE) and Anacor Pharmaceuticals Inc (NASDAQ:ANAC) announced that they have entered into a merger agreement under which Pfizer will acquire Anacor Pharmaceuticals Inc (NASDAQ:ANAC) for $99.25 per Anacor NASDAQ:ANAC share, in cash, for a total transaction value, net of cash, of approximately $5.2 billion, which assumes the conversion of Anacors outstanding convertible notes.

However, given that at least one analyst has set the high target price for NASDAQ:ANAC shares at $130.00 per share and given that NASDAQ:ANAC shares traded in August 2015 as high as $152.25 per share, the investigation concerns whether the offer is unfair to NASDAQ:ANAC stockholders. More specifically, the investigation concerns whether the Anacor Pharmaceuticals 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.