Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ZymoGenetics, Inc.
15 September 2010 - 2:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
ZymoGenetics, Inc. (“ZymoGenetics” or the “Company”) (NASDAQ:ZGEN)
related to the Company’s agreement to be acquired by Bristol-Myers
Squibb Company (“Bristol-Myers”). The proposed transaction is
valued at approximately $885 million.
Under the terms of the definitive agreement entered into by the
parties, a wholly owned subsidiary of Bristol-Myers has commenced a
cash tender offer to purchase all of the outstanding shares of
ZymoGenetics common stock for $9.75 per share. Shareholders holding
approximately 37% of the outstanding shares of ZymoGenetics common
stock have entered into agreements with Bristol-Myers to tender
their shares in the offer. In addition, the merger agreement
includes a provision under which ZymoGenetics has agreed not to
solicit any competing offers for the Company. The investigation
concerns possible breaches of fiduciary duty and other violations
of law related to approval of the transaction by ZymoGenetics’
board of directors.
If you own shares of ZymoGenetics, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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