BENSALEM, Pa., Jan. 15, 2009 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Targanta Therapeutics Corporation ("Targanta" or the "Company") (Nasdaq:TARG), concerning possible breaches of fiduciary duty and other violations of state law in relation to the Board's attempt to sell Targanta to The Medicines Company. The investigation focuses on the terms of a merger agreement under which The Medicines Company has agreed to commence a tender offer to acquire 100 percent of Targanta's outstanding shares. Under the terms of the agreement, Targanta shareholders will receive $2.00 cash for each share they hold of Targanta, or approximately $42 million. As Targanta's shares traded as high as $8.50 per share as recently as November 17, 2008, the transaction appears to be unfair and an undervaluation of the Company.
If you own the common stock of Targanta, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.