August 14, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of PharMerica Corporation (NYSE:PMC), was announced concerning whether the takeover of PharMerica Corporation for $29.25 per share is unfair to NYSE:PMC stockholders.

The investigation by a law firm concerns whether certain officers and directors of PharMerica Corporation breached their fiduciary duties owed to NYSE:PMC investors in connection with the proposed acquisition.

On August 2, 2017, PharMerica Corporation (NYSE:PMC) announced that it has entered into a merger agreement pursuant to which a newly formed company controlled by KKR, with Walgreens Boots Alliance, Inc. (Nasdaq:WBA) as a minority investor, will acquire PharMerica. Under the terms of the agreement, PharMerica Corporation (NYSE:PMC) shareholders will receive $29.25 in cash for each share of PharMerica common stock upon closing of the proposed transaction.

However, given that at least one analyst has set the high price target for NYSE:PMC shares at $31 per share, the investigation concerns whether the offer is unfair to NYSE:PMC stockholders. More specifically, the investigation concerns whether the PharMerica 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.