NEW YORK, June 28, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of HeartWare
International, Inc. ("HTWR" or the "Company") in connection with
the proposed acquisition of the Company by Medtronic PLC
("Medtronic"). On June 27, 2016, the
Company announced it had reached a definitive agreement for
Medtronic to acquire all outstanding shares of HTWR in a
transaction valued at $1.1 billion.
Under the terms of the agreement, HTWR shareholders will receive
$58.00 in cash for each HTWR share
they own.
WeissLaw is investigating whether HTWR's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price of
$60.00 per share, or $2.00 above the offer price. Further, the
acquisition of HTWR is a move by Medtronic to expand its portfolio
into the rapidly growing market for ventricular assist devices, or
VAD, which HTWR manufactures. Medtronic estimates that the
nearly $800 million global VAD market
will see double digit growths in future years.
Given these facts, WeissLaw is investigating whether HTWR's
Board acted in the best interests of HTWR's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own HTWR 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 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/.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/heartware-international-inc-acquisition-may-not-be-in-the-best-interests-of-htwr-shareholders-300291519.html
SOURCE WeissLaw LLP
