1. Ademi Firm investigates BPMC for fiduciary duty breaches in deal with Sanofi. 2. BPMC shareholders to receive $129 per share and potential CVR payments. 3. Transaction imposes penalties on competing bids, limiting shareholder options. 4. Investigation questions the conduct of BPMC's board of directors.
The ongoing investigation and potential fiduciary duty breaches raise significant concerns about governance. Historical examples, like in the case of Allergan, show such investigations often lead to stock price drops.
The investigation's focus on fiduciary duty directly impacts investor confidence and stock value. Potential implications from this investigation can create turbulence for BPMC's shares.
Given the immediate nature of the investigation, its implications will manifest quickly. Previous similar situations have led to short-term volatility for affected companies.
MILWAUKEE--(BUSINESS WIRE)-- The Ademi Firm is investigating Blueprint (Nasdaq: BPMC) for possible breaches of fiduciary duty and other violations of law in its transaction with Sanofi.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, shareholders of Blueprint will receive $129.00 per share, representing an equity value of approximately $9.1 billion. Blueprint shareholders also will receive one non-tradeable contingent value right (CVR) which will entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808. The total equity value of the transaction, including potential CVR payments, represents approximately $9.5 billion on a fully diluted basis. Blueprint insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Blueprint by imposing a significant penalty if Blueprint accepts a competing bid. We are investigating the conduct of the Blueprint board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.