We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Concert Pharmaceuticals, Inc. (“Concert” or the “Company”) (NASDAQ: CNCE), in connection with the proposed acquisition of the Company by Sun Pharmaceutical Industries Limited via tender offer. Under the terms of the merger agreement, the Company’s shareholders will receive $8.00 in cash for each share of Concert common stock owned, plus one non-tradeable contingent value right (“CVR”) per share. Each CVR will entitle its holder to deferred cash payments of $3.50 per CVR.
Weiss Law is investigating whether (i) Concert’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Concert’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 $9 median price target set by analysts, and at least one analyst set a price target for the Company of $17 per share, $9.00 above the cash consideration.