Key Developments: Optimer Pharmaceuticals Inc (OPTR.OQ)
12.48USD
1 Aug 2013
$-0.03 (-0.24%)
$12.51
$12.64
$12.65
$12.48
558,582
327,918
$16.77
$8.66
Latest Key Developments (Source: Significant Developments)
Ryan & Maniskas, LLP Announces Investigation Of Optimer Pharmaceuticals Inc
Ryan & Maniskas, LLP announced that it is investigating potential claims against the board of directors of Optimer Pharmaceuticals, Inc. (Optimer or the Company) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Cubist Pharmaceuticals, Inc. in a deal valued at approximately $801 million. Full Article
Faruqi & Faruqi LLP Partner Juan E. Monteverde Launches An Investigation Of Optimer Pharmaceuticals Inc Over The Proposed Sale Of Company To Cubist Pharmaceuticals Inc
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, announced that it is investigating the Board of Directors of Optimer Pharmaceuticals for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cubist Pharmaceuticals, Inc. The investigation focuses on whether Optimer's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Optimer's shareholders. Full Article
Levi & Korsinsky Investigates Possible Breaches Of Fiduciary Duty By Board Of Optimer Pharmaceuticals Inc In Connection With Sale Of Company To Cubist Pharmaceuticals Inc
Levi & Korsinsky announced that it is investigating the Board of Directors of Optimer Pharmaceuticals, Inc. (Optimer or the Company) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cubist Pharmaceuticals Inc. Under the terms of the transaction, Optimer shareholders will receive $10.75 in cash for each share of Optimer stock they own. Optimer shareholders will also receive a Contingent Value Right entitling them to receive up to $5.00 for each share they own if certain net sales of the drug DIFICID are achieved. The investigation concerns whether the Optimer Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cubist Pharmaceuticals, Inc. is underpaying for Optimer shares. In particular, at least one analyst set a price target of $25.00 per Optimer share. Full Article
Milberg Announces Investigation of Unfair Low Price In Cubist’s Acquisition Of Optimer Pharmaceuticals Inc
Milberg LLP announced that it is investigating the proposed acquisition of Optimer Pharmaceuticals, Inc. (Optimer) by Cubist Pharmaceuticals, Inc. (Cubist), as being potentially unfair to Optimer`s public shareholders. On July 30, 2013, Optimer announced that they signed a merger agreement pursuant to which Cubist will acquire all of the outstanding shares of Optimer common stock for $10.75 per share in cash, or approximately $535 million on a fully diluted basis. Optimer stockholders will also receive a Contingent Value Right (CVR), which is expected to be publicly traded, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID(fidaxomicin) are achieved, or a total or total transaction value of up to $801 million on a fully diluted basis. The transaction has been approved by the boards of directors of both companies. Even if the DEFICID sales target is achieved, the resulting total consideration of $15.75 would still be 10% below analysts` $17.50 mean target price and 6.3% lower than Optimer`s recent 52-week high of $16.80 on May 15, 2013. Full Article
Pomerantz Law Firm Investigates Claims on Behalf of Investors of Optimer Pharmaceuticals Inc
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it is investigating claims on behalf of investors of Optimer Pharmaceuticals Inc concerning the proposed acquisition of Optimer by Cubist Pharmaceuticals, Inc. in a transaction valued at $801 million. The investigation concerns whether the Optimer directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Optimer shareholders will be entitled to receive $10.75 per share in cash for each share of Optimer common stock. Full Article
Rigrodsky & Long, P.A. Announces Investigation Of Optimer Pharmaceuticals Inc Buyout
Rigrodsky & Long, P.A. announced that it is investigating potential legal claims against the board of directors of Optimer Pharmaceuticals, Inc. (Optimer or the Company) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Cubist Pharmaceuticals, Inc. (Cubist) in a transaction valued at approximately $801 million. Under the terms of the agreement, public shareholders of Optimer will receive $10.75 per share in cash for each share of Optimer they own. In addition to the cash consideration, Optimer shareholders would also receive one Contingent Value Right for each Optimer share they own, which could yield additional cash consideration of up to $5.00 per share. Full Article
Finkelstein Thompson LLP Announces Investigation Of Optimer Pharmaceuticals Inc Buyout
The law firm of Finkelstein Thompson LLP announced that it is investigating potential claims on behalf of shareholders of Optimer Pharmaceuticals, Inc. (Optimer or the Company), concerning the Company's proposed acquisition by Cubist Pharmaceuticals, Inc. (Cubist). Under the terms of the merger agreement, Optimer shareholders will receive $10.75 in cash for each share of Optimer common stock they own. Optimer shareholders will also receive one Contingent Value Right of up to $5.00 per share should certain net sales milestones of the drug DIFICID be reached. The total transaction is valued at approximately $801 million. At least one analyst has set a target price of $25.00 for Optimer shares. The investigation is focused on the potential unfairness of the consideration to shareholders, the process by which Optimer's Board of Directors considered the transaction, and potential conflicts of interest among the Company's Board members. Full Article
The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale Of Optimer Pharmaceuticals Inc To Cubist
Willie Briscoe and Powers Taylor, LLP announced that they are investigating the sale of Optimer Pharmaceuticals Inc. (Optimer) to Cubist Pharmaceuticals, Inc. for shareholders. Under the terms of the proposed merger agreement, valued at approximately $801 million, Optimer shareholders will receive only $10.75 in cash and one Contingent Value Right for each share of Optimer stock owned, well below the 52-week high of $16.80. Full Article
Law Firm Johnson & Weaver, LLP Announces Investigation Of Optimer Pharmaceuticals Inc Proposed Acquisition By Cubist Pharmaceuticals Inc
Law Firm Johnson & Weaver, LLP announced that it is investigating whether members of the board of directors of Optimer Pharmaceuticals, Inc. breached their fiduciary duties in connection with the proposed acquisition by Cubist Pharmaceuticals, Inc. On July 30, 2013, Cubist announced that it had entered into a definitive merger agreement to acquire all outstanding shares of Optimer. Under the terms Optimer shareholders would receive $10.75 per share in cash upfront, and an additional $5 per share contingent on Optimer meeting certain sales milestones. The investigation will determine whether Optimer`s board of directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the Company before entering into this agreement. Our investigation will determine whether Cubist Pharmaceuticals, Inc. is underpaying for Optimer shares. In particular, analysts target price for the stock is much higher than the buyout price. Full Article
Wohl & Fruchter Investigates Acquisition Of Optimer Pharmaceuticals Inc By Cubist Pharmaceuticals, Inc
The law firm of Wohl & Fruchter LLP is investigating the proposed acquisition of Optimer Pharmaceuticals, Inc. On July 30, 2013, Optimer and Cubist announced they had signed an agreement under which Cubist will acquire all of the outstanding shares of Optimer stock for $10.75 per share in cash - over 20% below the $13.29/share closing price of OPTR on July 30, 2013. Wohl & Fruchter's investigation concerns whether the Optimer Board of Directors breached their fiduciary duties to stockholders by agreeing to sell the Company to Cubist for an inadequate price, and failing to adequately shop the Company before agreeing to enter into the transaction with Cubist. Full Article
Cubist to pay up to $1.6 billion for two antibiotics makers
- Cubist Pharmaceuticals Inc has agreed to pay up to $1.6 billion for Trius Therapeutics Inc and Optimer Pharmaceuticals Inc, expanding its heft in antibiotics at a time when the number of drug-resistant viruses are on the rise.

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