DALLAS--(BUSINESS WIRE)--Kendall Law Group, led by former federal judge Joe Kendall, is investigating Gen-Probe Inc. (NASDAQ: GPRO) for shareholders in connection with the proposed acquisition by Hologic Inc. The national securities firm’s investigation seeks to determine whether Gen-Probe 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 Gen-Probe 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 April 30, 2012, the companies announced the definitive merger agreement under which Gen-Probe would be acquired by Hologic, in a transaction valued at approximately $3.75 billion. Under the terms of the agreement, Gen-Probe stockholders will receive $82.75 in cash for each share of Gen-Probe/GPRO common stock held. The offer price represents a 20 percent premium to Gen-Probe's Friday closing price of $68.71. The firm’s investigation seeks to determine whether Gen-Probe 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.