We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Ortho Clinical Diagnostics Holdings plc (“Ortho” or the “Company”) (NASDAQ: OCDX), in connection with the proposed acquisition of the Company by Quidel Corporation (“Quidel”) (NASDAQ: QDEL). Under the terms of the merger agreement, the Company’s shareholders will receive $7.14 in cash and 0.1055 shares of common stock in the combined company for each Ortho common share they own, representing implied per-share merger consideration of approximately $24.68 based upon Quidel’s December 22, 2021 closing price of $166.24. Upon completion of the transaction, Ortho shareholders are expected to own approximately38% of the combined company. The transaction is valued at approximately $6.0 billion.
WeissLaw LLP is investigating whether (i) Ortho’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Ortho’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.