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id: 502

Epizyme Takeover by Ipsen Case

On June 27, 2022, Ipsen (Euronext: IPN; ADR: IPSEY) and Epizyme (Nasdaq: EPZM) announced that they have entered into a definitive merger agreement under which Ipsen will acquire Epizyme. The transaction was unanimously approved by both Ipsen and Epizyme Boards of Directors.

On August 12, 2022, Ipsen announced that acquired all outstanding shares of EPZM for $1.45 per share plus a contingent value right (CVR) of $1.00 per share.

The EPZM's average stock price in the preceding 52 weeks was around $4.5 and had been reaching $10 per share just 1 year ago which makes the deal price unreasonably low.

Taking the preceding price range and analyst valuations into account, Shareholders have grounds to believe that the Board of Directors breached its fiduciary duties by unanimously approving the deal with understated commercial terms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Breach of Fiduciary duty
Suspected Party
Investment Bank
Service Provider
Security Type
Trade Direction
Shock Event Date
27 June 2022
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