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Chindex International, Inc. (NASDAQ:CHDX) Investor Files Lawsuit In Effor To Halt Takeover At $19.50 Per Share

  • If you purchased shares of Chindex International, Inc. (NASDAQ:CHDX) and currently hold any of those NASDAQ:CHDX shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Chindex International, Inc.
Security
NASDAQ: CHDX

Case Name
Chindex International Deal Case 02/21/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

February 21, 2014 (Shareholders Foundation) - An investor who currently holds shares of Chindex International, Inc. (NASDAQ:CHDX) filed a lawsuit in effort to halt the proposed takeover of Chindex International, Inc. for $19.50 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to Chindex International, Inc. (NASDAQ:CHDX stockholders arising out of the attempt to sell Chindex International, Inc. too cheaply via an unfair process.

On Feb. 17, 2014 Chindex International, Inc. (NASDAQ:CHDX) announced that it has entered into a merger agreement with a buyer consortium (the Buyer Consortium ) of an affiliate of TPG, an affiliate of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. , and Ms. Roberta Lipson, the CEO of the Company, in a transaction having an implied equity value of approximately $369 million.
Under the terms of the merger agreement, the Buyer Consortium will acquire all of the outstanding shares of Chindex International, Inc.’s common stock for $19.50 per share in cash.

However, the plaintiff alleges that the $19.50-offer is too low and undervalues Chindex International, Inc.

Chindex International, Inc. reported that its annual Total Revenue rose from $11.440 million in 2011 to $152.44 million in 2012 and that its respective Net Income increased from $3.20 million to $4.09 million.

Shares of Chindex International, Inc. (NASDAQ:CHDX) grew from $3.64 per share in March 2009 to as high as $18.87 per share in August 2013.

On February 21, 2014, NASDAQ:CHDX shares closed at $19.25 per share.