BUYOUT OF METROPOLITAN - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 5, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Metropolitan Health Networks. Humana Inc. (HUM) (“Humana”) and Metropolitan Health Networks, Inc. (MDF) (“Metropolitan”) today announced that they have entered into a definitive agreement pursuant to which Humana will acquire Metropolitan in a transaction valued at approximately $850 million plus transaction costs. Under the terms of the agreement, which has been approved by both companies’ boards of directors, Metropolitan stockholders will receive $11.25 per share in cash from Humana for each Metropolitan share. Humana will also repay all of Metropolitan’s outstanding debt
The investigation concerns whether the board of directors of MDF is breaching their fiduciary duties by not engaging in a full and fair auction of the company to allow shareholders to obtain the highest price possible for their shares while not at the same time obtaining personal benefits for themselves to enter into this transaction at this price. Indeed, analysts have projected that the company's true buyout value is at least $13 per share.
If you are a shareholder of MDF and would like additional information concerning this matter please contact us at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a leading national law firm that has recovered millions of dollars for shareholders around the globe