NEW YORK, May 22, 2015 /PRNewswire/ -- The proposed
acquisition of Omnicare, Inc. ("OCR" or the "Company") by CVS
Health Corporation ("CVS") is being investigated for possible
breaches of fiduciary duty and other violations of law by the Board
of Directors of OCR. On May 21,
2015, CVS announced it had entered into a definitive
agreement to acquire OCR for $10.4
billion. Under the terms of the agreement, OCR
shareholders will receive $98 in cash
for each OCR share they own, representing a premium of less than 4%
over the Company May 20, 2015 closing
price of $94.63.
WeissLaw is investigating whether OCR's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, OCR recently announced positive financial results,
reporting net sales increase of $ 1.66
million in the first quarter of this year, as compared to
$1.57 million in the same period of
the previous year. Additionally, the acquisition of OCR would
expand CVS's presence in the rapidly growing specialty care
business, a segment in which OCR has thrived, reporting a 20%
increase in revenues to $1.67 billion
in 2014.
Given these facts, WeissLaw is investigating whether OCR's Board
acted in the best interests of OCR's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with the CVS. If you own OCR
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771
or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP