Robbins Arroyo LLP: Acquisition of Thoratec Corp. (THOR) by St. Jude Medical, Inc. (STJ) May Not Be in Shareholders’ Best Interests
Robbins Arroyo LLP is investigating the proposed acquisition of Thoratec Corp. (NASDAQ: THOR) by St. Jude Medical, Inc. (NYSE: STJ). On July 22, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which St. Jude will acquire Thoratec. Under the terms of the agreement, Thoratec shareholders will receive $63.50 for each share of Thoratec common stock.
Is the Proposed Acquisition Best for Thoratec and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of directors at Thoratec is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. Notably, the $63.50 merger consideration represents a premium of only 10.3% based on Thoratec’s closing price on July 21, 2015. This premium is significantly below the average one-day premium of nearly 30% for comparable transactions within the past five years
Thoratec shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information.
Thoratec shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.