Press release
Investigation announced for Investors of PRA Health Sciences, Inc. (NASDAQ: PRAH) over Takeover
An investigation on behalf of investors of PRA Health Sciences, Inc. (NASDAQ: PRAH) in connection with the proposed takeover.
is unfair to NASDAQ: PRAH stockholders.
Investors who purchased shares of PRA Health Sciences, Inc. (NASDAQ: PRAH) and currently hold any of those NASDAQ: PRAH shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of PRA Health Sciences, Inc. breached their fiduciary duties owed to NASDAQ: PRAH investors in connection with the proposed acquisition.
Raleigh, NC based PRA Health Sciences, Inc., a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. On Feb. 24, 2021, ICON plc, (NASDAQ: ICLR) announced it has entered into a definitive agreement to acquire PRA Health Sciences, Inc. (NASDAQ: PRAH) in a cash and stock transaction valued at approximately $12 billion, with the per share merger consideration consisting of $80 in cash and 0.4125 shares of ICON stock. Based on a closing price of $208.62 per NASDAQ: ICLR share on February 23, 201, investors in PRA Health Sciences, Inc. (NASDAQ: PRAH) will received a value of approximately of $166.06 per NASDAQ: PRAH shares.
However, given that at least one analyst has set the high target price of NASDAQ: PRAH shares at $196 per share, the investigation concerns whether the offer is unfair to NASDAQ: PRAH stockholders. More specifically, the investigation concerns whether the PRA Health Sciences Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in PRA Health Sciences, Inc. (NASDAQ: PRAH) shares have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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