On January 12, 2009 the Medicines Company announced to acquire Targanta Therapeutics Corp. (NASDAQ: TARG). According to a press rlease an investigation on behalf of Targanta Therapeutics Corp. (NASDAQ: TARG) investors over potential claims against the Board of Directors of Targanta Therapeutics Corporation concerning possible breaches of fiduciary duty and other violations of state law in relation to the board's attempt to sell Targanta to The Medicines Company was announced.

According to the investigation by a law firm the investigation focuses on the terms of a merger agreement under which The Medicines Company has agreed to commence a tender offer to acquire 100 percent of Targanta's outstanding shares. Under the terms of the agreement, Targanta shareholders will receive $2.00 cash for each share they hold of Targanta, or approximately $42 million. Therapeutics will have to pay $5.485 million in termination fee if merger pact between them is terminated. Targanta's shares traded as high as $8.50 per share as recently as November 17, 2008. Therefore, so the investigation the transaction appears to be unfair and an undervaluation of Targanta Therapeutics Corp.