WASHINGTON, Aug. 19, 2008 (GLOBE NEWSWIRE) -- The law firm of Finkelstein Thompson LLP is currently investigating potential shareholder claims for breach of fiduciary duty arising from the proposed merger of APP Pharmaceuticals, Inc. ("APPX") with Fresenius, SE ("Fresenius").
On July 7, 2008, APPX announced its plan to merge with Fresenius for cash and a future amount to be determined according to a Contingent Value Rights Agreement, both of which had been pre-approved. Fresenius and APPX's Chairman, Patrick Soon-Shiong ("Soon-Shiong") together hold over 80% of APPX's outstanding shares. The merger agreement also contains a $140 million termination fee and a "no solicitation" agreement. As such, it appears that this merger may be unfair to APPX shareholders.
If you currently hold APPX securities, please contact FT's Washington, DC office at (877) 337-1050 or by email at contact@finkelsteinthompson.com to discuss your rights.