|[July 09, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Salix Pharmaceuticals, Ltd. In Connection With The Proposed Sale Of The Company
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the board of
directors of Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) relating to the
proposed buyout of the Company.
On July 8, 2014, Salix Pharmaceuticals, Ltd. ("Salix") and Cosmo
Pharmaceuticals S.p.A. ("Cosmo") announced that they had entered into a
definitive merger agreement pursuant to which Salix will combine with
Cosmo Technologies Limited ("Cosmo Tech"), a subsidiary of Cosmo. Under
the terms of the agreement, Salix will become a wholly-owned subsidiary
of Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc.
Under the terms of the transaction, Salix shareholders will receive one
share of the post-merger entity for each share of Salix they own. The
firm's investigation seeks to determine, among other things, whether the
Company's board of directors breached their fiduciary duties by failing
to maximize shareholder value before agreeing to enter into this
transaction, and whether Cosmo is underpaying for Salix shares.
If you currently own common stock of Salix and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at email@example.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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