The
Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the law firm of Powers
Taylor LLP are investigating the fairness of the proposed
acquisition of Martek
Biosciences Corporation (“Martek Biosciences” or “MATK”) (NASDAQ:
MATK) by Royal DSM N.V. (“DSM”) for shareholders. The investigation
relates to possible breaches of fiduciary duty and other violations of
state law by the Board of Directors of Martek Biosciences for approving
this transaction, whether Martek Biosciences’ Board of Directors acted
in the shareholders’ best interests, and whether the transaction
provides fair value and adequate disclosures to the shareholders.
The definitive acquisition agreement, which was announced on December
21, 2010, involves an all-cash tender offer valued at approximately
$1.09 billion that is expected to commence in January 2011 and close in
February 2011. Under the proposed acquisition, Martek Biosciences
shareholders will receive a cash payment of only $31.50 for each share
of Martek Biosciences/MATK common stock they hold. While the acquisition
price reportedly represents an approximate 35% premium over Martek
Biosciences’ closing price the day before the acquisition announcement,
Martek Biosciences recently reported strong fourth quarter results,
including a 36% increase in revenue growth, well above analysts’
estimates, and operational improvements. Based on this and other
factors, the firms believe that the acquisition price significantly
undervalues the company and may not be fair to Martek Biosciences
shareholders.
If you currently own shares of Martek Biosciences/MATK and would like
additional information regarding this investigation, or if you have
information regarding the allegations involved in this transaction,
please contact Patrick Powers at Powers Taylor LLP, toll free (877)
728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a
variety of complex business litigation matters, including claims of
investor and stockholder fraud, shareholder oppression, shareholder
derivative suits, and security class actions.
Powers Taylor LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 877-397-5991
WBriscoe@TheBriscoeLawFirm.com