NEW YORK, May 5, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of IMS Health Holdings
Inc. ("IMS" or the "Company") in connection with the proposed
acquisition of the Company by Quintiles Transnational Holdings Inc.
("Quintiles"). On May 3, 2016,
the Company announced it had reached a definitive agreement for
Quintiles to acquire all outstanding shares of IMS in a transaction
valued at approximately $23
billion. Under the terms of the agreement, IMS
shareholders will receive 0.384 shares of Quintiles for each IMS
share they own.
WeissLaw LLP is investigating whether the IMS Board acted to
maximize shareholder value prior to entering into the agreement
with Quintiles. Notably, the offer represents consideration
of $24.97 per share, based on
Quintiles's May 4, 2016 closing
price. On that same day, the Company's shares traded above
the offer price and closed at $25.02;
the consideration is also $8.55 lower
than IMS's 52 week high of $33.52. Further, an analyst set a target
price of $32.00 per share, or
$7.03 above the offer price.
Finally, on May 3, 2016, the Company
also announced positive financial results for the first quarter of
2016. It reported revenues of $774
million, representing an increase of 25.2% year-over-year,
on a constant currency basis.
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell IMS and whether IMS shareholders will
obtain their fair share of the Company's continued success and
future growth prospects. If you own IMS shares and would like
more information about your rights or our investigation, please
contact Joshua Rubin either 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/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP