Investors who purchased shares of the PSS World Medical, Inc. (NASDAQ:PSSI)
The investigation by a law firm concerns whether certain officers and directors of PSS World Medical, Inc. breached their fiduciary duties owed to NASDAQ:PSSI investors in connection with the proposed acquisition.
On October 25, 2012 McKesson Corporation (NYSE: MCK) and PSS World Medical, Inc. (NASDAQ: PSSI), announced that the two companies have signed an agreement under which McKesson will acquire all outstanding shares of PSS World Medical for $29.00 per share in cash.
The total transaction, including the assumption of PSS World Medical's outstanding debt, is valued at approximately $2.1 billion.
However, PSS World Medical’s financial performance improved over the past years. In fact, PSS World Medical, Inc. (NASDAQ:PSSI)
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:PSSI stockholders. Specifically, the investigation focuses on whether the PSS World Medical Board of Directors undertakes an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in PSS World Medical, Inc. (NASDAQ:PSSI)