Case Details for "Medarex, Inc."

Investigation of Medarex, Inc. related to takeover

Lawyers are investigating potential shareholder claims arising from the tender offer by which the board of directors of Medarex, Inc. (Nasdaq:MEDX) has agreed to sell the Company to Bristol-Myers Squibb. Under the terms of the offer, Medarex shareholders will receive $16.00 per share in cash -- valuing the sale at $2.4 billion. The tender offer price is well below Medarex' peak historical share price and appears to be timed to take advantage of widespread depressed equities prices due to the global economic downturn.

The investigation is focused on the potential unfairness of the tender offer price and of the process by which the Medarex board of directors approved the offer.

Posted on:07/27/2009
Company: Medarex, Inc.
Affected Class: current shareholders
Scope: Nationwide

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