The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Inhibitex, Inc., in Connection with the Sale of the Company to Bristol-Myers Squibb Company
Published: Jan 11, 2012
NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Inhibitex, Inc. (“Inhibitex” or the “Company”) (Nasdaq: INHX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Bristol-Myers Squibb Co. (NYSE: BMY). Under the terms of the transaction, Inhibitex shareholders will receive $26 per share of Inhibitex stock they own. The transaction has a total approximate value of $2.5 billion. Shareholders with beneficial ownership of approximately 17% of Inhibitex common stock have already entered into agreements with Bristol-Myers to support the transaction and to tender their shares in the tender offer.