DALLAS--(BUSINESS WIRE)--Kendall Law Group, led by former federal judge Joe Kendall, is investigating Kinetic Concepts, Inc. (NYSE: KCI) for shareholders in connection with the proposed acquisition by a group of investors led by Apax Partners. The national securities firm’s investigation seeks to determine whether Kinetic Concepts and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Kinetic Concepts shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at investor@kendalllawgroup.com.
On July 13, 2011, Kinetic Concepts announced the definitive merger agreement under which the company would be acquired by a “consortium comprised of funds advised by Apax Partners, together with controlled affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board,” in a transaction valued at approximately $5 billion. Under the terms of the agreement, Kinetic Concepts stockholders will receive $68.50 in cash for each share of Kinetic Concepts/KCI common stock held. The offer price represents a 6.2% premium to Kinetic Concepts’ Tuesday closing stock price of $64.49. On July 7, 2011, the Wall Street Journal reported that Blackstone Group was in talks to buy Kinetic Concepts and that Kohlberg Kravis Roberts & Co. and other parties had also recently examined a possible purchase of the company. On news of Blackstone Group’s interest in Kinetic Concepts, the AP reported that Collins Stewart analyst Tao Levy said the company “would probably fetch between $73 and $76 per share” if taken private. The firm’s investigation seeks to determine whether Kinetic Concepts and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.