The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Inhibitex, Inc. (“Inhibitex”) (Nasdaq: INHX) and other violations of state law by the board of directors of Inhibitex relating to the proposed acquisition of the company by Bristol-Myers Squibb Company (“Bristol-Myers”). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.
On January 9, 2012, Inhibitex and Bristol-Myers announced that they had entered into a definitive merger agreement. According to the announcement, Bristol-Myers will acquire all of the shares of Inhibitex common stock in a two step merger - beginning with a tender offer - for $26.00 per share or approximately $2.5 billion total in cash. Furthermore, the press release states that shareholders owning 17 percent of Inhibitex’s stock have already agreed to support the merger.
If you currently own shares of Inhibitex and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.