Market Overview

WeissLaw LLP: LifePoint Health, Inc. Acquisition May Not Be In The Best Interest of LPNT Shareholders

Share:

WeissLaw LLP: LifePoint Health, Inc. Acquisition May Not Be In The Best Interest of LPNT Shareholders

PR Newswire

NEW YORK, July 26, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of LifePoint Health, Inc. ("LPNT" or the "Company") (NASDAQ: LPNT) in connection with the proposed acquisition of the Company by RCCH HealthCare Partners, an affiliate of Apollo Global Management, LLC ("RCCH").  Under the terms of the acquisition agreement, shareholders will receive $65.00 in cash for each LPNT share they own. 

WeissLaw is investigating whether LPNT's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, LPNT shares traded for $67.65, or $2.65 above the offer price, in July of last year.  Additionally, the acquisition will expand RCCH's geographic footprint from the 12 states in which it already operates to include the community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities that LPNT operates in 22 states.  Moreover, the newly combined company is expected to generate pro forma 2017 revenue of more than $8 billion

Finally, prior the acquisition announcement, J.P. Morgan analyst Anthony Makdessi wrote favorably about the Company's performance and growth prospects.  He forecasted that the combination of LPNT's geographic footprint and "the managed care negotiating leverage of a sole community provider heading into exchange price discussions should enable [LPNT] to capture outsized gains compared to peers."

Given these facts, WeissLaw is investigating whether LPNT's Board acted in the best interests of LPNT's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own LPNT shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/lifepoint-health-inc/

 

Cision View original content:http://www.prnewswire.com/news-releases/weisslaw-llp-lifepoint-health-inc-acquisition-may-not-be-in-the-best-interest-of-lpnt-shareholders-300687509.html

SOURCE WeissLaw LLP

View Comments and Join the Discussion!