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

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

Gainesville, FL based Exactech, Inc. develops, manufactures, markets, distributes and sells orthopedic implant devices, related surgical instrumentation and biologic services to hospitals and physicians.

On October 23, 2017, Exactech, Inc. (NASDAQ:EXAC) announced that it has entered into a merger agreement under which TPG Capital, the global private equity platform of alternative asset firm TPG, will acquire all of the outstanding shares of Exactech common stock for the payment of $42.00 per share in cash to all holders of Exactech common stock other than certain management stockholders who have agreed to exchange a portion of their shares for new equity securities in the transaction.
However, given that Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have already agreed with TPG to vote all of their shares in favor of the merger and to exchange a significant portion of their shares for new shares in the parent entity immediately following the merger, the investigation concerns whether the offer is unfair to NASDAQ:EXAC stockholders. More specifically, the investigation concerns whether the Exactech 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.