SAN DIEGO & BOWIE, Md.--(BUSINESS WIRE)--Robbins LLP announces that it is investigating the acquisition of Inovalon Holdings, Inc. (NASDAQ: INOV) by, among others, Nordic Capital X, and Inovalon's CEO and founder Keith Dunleavy, M.D. (the "Investor Consortium"), who currently owns and controls 64% of Inovalon's outstanding stock. Under the terms of the agreement, the Investor Consortium will acquire Inovalon in a going private merger and each Inovalon shareholder will receive just $41.00 per share in cash in exchange for each share of Inovalon.
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Is the Proposed Acquisition Best for Inovalon Holdings, Inc. (INOV) and Its Shareholders?
According to the Proxy Statement, Inovalon's board approved a merger agreement with the Investor Consortium to take Inovalon private. The deal is valued at approximately $7.3 billion and is expected to close in late 2021 or early 2022. Upon completion of the transaction, Inovalon will become a private company, with Dr. Dunleavy continuing as a substantial shareholder and retaining his positions as a board member and CEO. Robbins LLP is concerned that Inovalon's board of directors engaged in an unfair process and agreed to an unfair amount to be paid to shareholders.
Inovalon Holdings, Inc. (INOV) Shareholders Have Legal Options
Robbins LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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