Kendall Law Group, a national securities firm, is investigating WuXi PharmaTech on behalf of shareholders after the announcement of a $1.6 billion merger agreement between WuXi and Charles River Laboratories, Inc. The firm’s investigation is to determine if a fair process was used in shopping the company prior to entering into the agreement and whether the Board of Directors had breached their fiduciary duties by not seeking a deal that would provide better value of the company. WuXi shareholders, and anyone else with knowledge of the transaction, are encouraged to contact the Kendall Law Group by email at skendall@kendalllawgroup.com or 877-744-3728.
On April 26, 2010, the companies announced that they have reached an agreement to combine and operate under the name Charles River, which will provide outsourced services to multinational pharmaceutical, biotechnology, and medical device companies. According to the agreement, Charles River will pay $21.25 in cash and stock per WuXi American Depository Share owned. This represents a 28% premium over the closing price of WuXi on April 23, 2010.
Kendall Law Group is founded by a former federal judge, and includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in many merger and acquisition cases nationwide, including some of the largest transactions in the United States.
