The law firm of Brower Piven, A Professional Corporation, has commenced
an investigation into possible breaches of fiduciary duty to current
shareholders of Allied Healthcare International Inc. (“Allied”) (NASDAQ:
AHCI) and other violations of state law by the board of directors of
Allied relating to the proposed acquisition of the company by Saga Group
Limited (“Saga”). The firm’s investigation seeks to determine, among
other things, whether the board breached their fiduciary duties by
failing to maximize shareholder value.
On July 29, 2011, Allied announced that it had entered into a definitive
merger agreement to be acquired by Saga for $3.90 per share in cash, or
an aggregate purchase price of approximately $175 million. According to
the press release, the transaction is expected to close in the fourth
quarter of 2011.
The press release states that the merger price represents a 59% premium
to Allied’s closing price on July 28, 2011. However, as recent reports
explain, Allied is a consistent earner, has a strong balance sheet,
generates high returns on capital, is scalable, and is benefiting from
many trends in the UK healthcare sector, economy, and demographics.
If you currently own shares of Allied and would like to learn more about
the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to
answer your questions. You may contact Brower Piven by email at email@example.com,
by calling 410/415-6616, or at Brower Piven, A Professional Corporation,
1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and other class
action cases of over 60 years.
Brower Piven, A Professional Corporation Stevenson, Maryland Charles
J. Piven, 410-415-6616 firstname.lastname@example.org