Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 502, Created by Stan Vick, Scout
Epizyme Takeover by Ipsen Case
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
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.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
27 June 2022