Bioverativ Inc. (NASDAQ: BIVV)
The firm is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Bioverativ Inc. ("BIVV" or the "Company") (BIVV) in connection with the proposed acquisition of the Company by French drugmaker Sanofi S.A. ("Sanofi"). Under the terms of the acquisition agreement, the Company's shareholders will receive $105.00 in cash for each BIVV share they own.
The investigation is looking into whether BIVV's Board acted to maximize shareholder value prior to entering into the agreement. Notably, in its latest financial release, the Company announced impressive financial results. It reported a 27.2% annual increase in revenue and Non-GAAP operating margin of 45.7%.
Additionally, the acquisition is a strategic transaction from which Sanofi will benefit greatly. According to Sanofi's Chief Executive Officer, the acquisition "enhances [Sanofi's] presence in specialty care and . . . creates a platform for growth in other rare blood disorders."
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
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