Catalyst Health Solutions, Inc. : Rigrodsky & Long, P.A. Announces Investigation Of Catalyst Health Solutions, Inc. Over Its Agreement To Be Acquired By SXC Health Solutions
04/18/2012| 08:05am US/Eastern
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Rigrodsky
& Long, P.A., a national securities firm with offices in
Delaware and New York, announces that it is investigating potential
claims against the board of directors of Catalyst Health Solutions, Inc.
("Catalyst" or the "Company") (NASDAQ GS: CHSI)
over the Company's entry into an agreement to be acquired by SXC Health
Solutions ("SXC Health") (NASDAQ GS: SXCI)
in a cash and stock transaction valued at about $4.4 billion.
Under the terms of the merger agreement, Catalyst shareholders will
receive $28.00 in cash and 0.6606 shares of SXC Health stock for each
Catalyst share, implying a purchase price of $81.02 per Catalyst share.
Following the close of the transaction, the SXC Health board of
directors will include two current Catalyst directors. The transaction,
which is subject to approval by SXC Health and Catalyst shareholders,
U.S. antitrust approval and other customary closing conditions, is
expected to close in the second half of 2012.
The investigation concerns whether Catalyst's board of directors failed
to adequately shop the Company and obtain the best price possible for
Catalyst's shareholders before entering into an agreement with SXC
Health.
If you own the common stock of Catalyst and purchased your shares before
April 18, 2012, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Scott
J. Farrell, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825
East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com,
or at: http://www.rigrodskylong.com/investigations/catalyst-health-solutions-inc-chsi.
Rigrodsky
& Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly litigates securities
class, derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of Chancery
and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Scott J. Farrell, Esquire
Peter
Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-9430
info@rigrodskylong.com
http://www.rigrodskylong.com
© Business Wire 2012
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