Ademi LLP is investigating Bio-Techne (NASDAQ: TECH) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Merck.
Bio-Techne shareholders will receive $73 per share in cash, representing a total enterprise value of approximately $11.3 billion. Bio-Techne insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Bio-Techne by imposing a significant penalty if Bio-Techne accepts a competing bid. We are investigating the conduct of the Bio-Techne board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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