NEW YORK, June 4, 2015 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Bio-Reference Laboratories, Inc. (“Bio-Reference” or the “Company”) (NASDAQ: BRLI) (ISIN: US09057G6026) (CUSIP: 09057G602) concerning the proposed acquisition of Bio-Reference by OPKO Health, Inc. (“OPKO”).
Bio-Reference shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Bio-Reference directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Bio-Reference shareholders will receive 2.75 shares of OPKO common stock for each share of BRLI common stock. Based on a closing price of $19.12 per share of OPKO common stock on June 3, 2015, the transaction is valued at approximately $1.47 billion, or $52.58 per share of Bio-Reference common stock. However, the EBIT and Revenue multiples are below the averages of comparable transactions, according to a Bloomberg analysis. Additionally, it appears that the Management team will stay on with the new company.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 9980
SOURCE Pomerantz LLP