We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CinCor Pharma, Inc. (“CinCor” or the “Company”) (NASDAQ: CINC), in connection with the proposed acquisition of the Company by Astra Zeneca PLC (NASDAQ: AZN) via tender offer. Under the terms of the merger agreement, the Company’s shareholders will receive $26.00 in cash for each share of CinCor common stock owned, plus a non-tradable contingent value right (“CVR”) of $10.00.
Weiss Law is investigating whether (i) CinCor’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $26.00 per share merger consideration adequately compensates CinCor’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the merger consideration is below the $30 median price target set by analysts, and at least one analyst set a price target for the Company of $50 per share, $24.00 above the per-share merger consideration.