Under the proposed transaction, LifePoint shareholders will receive $65 per share in cash for each share of LifePoint they own. Mr. Foti and his law firm are seeking to determine whether $65 per share is adequate or if that amount undervalues LifePoint. They are also examining whether the process used to determine the share buyout price was adequate.
The proposed deal was announced July 23, and the $65 shareholders will get for each share owned is an about 36 percent premium to LifePoint’s closing price of $47.90 July 20, according to The Wall Street Journal.
The proposed deal needs approval from regulators and LifePoint shareholders.
More articles on legal and regulatory issues:
12 latest lawsuits involving hospitals
Ex-drug company executive gets 15 years in prison for $50M pill distribution plot
Congress considers 340B changes
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
