Robbins Umeda LLP Is Investigating Kendle International, Inc. Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of Kendle International, Inc. (NASDAQ: KNDL). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Kendle in connection with their efforts to sell Kendle to INC Research, LLC, a therapeutically focused global contract research organization.
On May 4, 2011, INC and Kendle announced they have entered a definitive merger agreement under which INC will acquire all the outstanding shares of Kendle for $15.25 per share. The transaction is expected to be consummated in the third quarter of 2011.
The investigation focuses on whether Kendle’s board is undertaking a fair process to obtain maximum value for its shareholders. Of note, at least two analysts have price targets higher than the offer price, one being as high as $17.00.
If you own stock in Kendle and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.