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| [January 23, 2013] |
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INVESTOR ALERT: Brannon Law Firm, L.L.C. is Investigating the Proposed Tender Offer/Merger of MAP Pharmaceuticals, Inc. by Allergan, Inc.
METAIRIE, La. --(Business Wire)--
Brannon Law Firm, L.L.C., a Metairie, Louisiana based securities
litigation law firm, announces that it is commencing an investigation
into the Board of Directors of MAP Pharmaceuticals, Inc. ("MAP" or the
"Company") (Nasdaq: MAPP) to determine whether they have breached their
fiduciary duties and other possible violations of state law in
connection with the proposed tender offer/merger of MAP to Allergan,
Inc. (NYSE: AGN (News - Alert)). Under the terms of the transaction, Allergan will
tender $25 per share to MAP shareholders. If Allergan does not hold 90%
of more of the outstanding MAP shares following completion of the offer,
the Company may hold a special shareholders' meeting to obtain
stockholder approval of the merger. The per share offer represents a
total equity value of approximately at $985 million, on a fully-diluted
basis.
The investigation is focused on the timing of the transaction, the
mechanism effected to achieve the transaction, and the potential
unfairness of the consideration to MAP shareholders and whether MAP's
Board of Directors acted in the shareholders' best interest and properly
shopped the company before entering into the acquisition agreement with
Allergan, Inc. The value of MAP stock was expected to continue
increasing upon the anticipated approval of its new drug for migraine
treatment - LEVADEX. At least one analyst set a price target for MAP
stock at $30.00 per share by the end of 2013.
If you have information relevant to this investigation, or if you own
common stock in MAP and wish to discuss your legal rights as a MAP
shareholder, you may, without obligation or cost to you, e-mail or call
Paul M. Brannon (PMB@BrannonLawFirm.com)
at (504)-456-8696.

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