HeartWare International, Inc. Acquisition May Not Be in the Best Interests of HTWR Shareholders

NEW YORK, June 28, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of HeartWare International, Inc. ("HTWR" or the "Company") in connection with the proposed acquisition of the Company by Medtronic PLC ("Medtronic"). On June 27, 2016, the Company announced it had reached a definitive agreement for Medtronic to acquire all outstanding shares of HTWR in a transaction valued at $1.1 billion. Under the terms of the agreement, HTWR shareholders will receive $58.00 in cash for each HTWR share they own. 

WeissLaw is investigating whether HTWR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $60.00 per share, or $2.00 above the offer price. Further, the acquisition of HTWR is a move by Medtronic to expand its portfolio into the rapidly growing market for ventricular assist devices, or VAD, which HTWR manufactures. Medtronic estimates that the nearly $800 million global VAD market will see double digit growths in future years. 

Given these facts, WeissLaw is investigating whether HTWR's Board acted in the best interests of HTWR's public shareholders to maximize shareholder value prior to entering into the agreement. If you own HTWR 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 [phone] or by email at [e-mail].  

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 [e-mail] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

 

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SOURCE WeissLaw LLP

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