Kite Pharma (KITE)

[tedkov]

Kite Pharma Shareholders Upset Over Merger Bid - (via NewsPoints Desk)
August 28, 2017
Tags: NewsPoints Kite Gilead United States Corporate Affairs Mergers &
Acquisitions
Kite Pharma Inc. shareholders are upset and will seek
to block the $11.9 billion purchase of the company by Gilead Sciences.
The shareholders accuse Kite’s board of breach of fiduciary duties, arguing
that the purchase price is insufficient in light of the company's growth
prospects and that deal-protection clauses in the merger agreement preclude other
companies from submitting successful competing offers. In addition, shareholders
allege that senior management obtained personal benefits in agreeing to sell
the company to Gilead that are not being shared with common stockholders.
Kite did not immediately respond to requests for a comment.
To contact the law firm handling the matter on behalf of shareholders of
Kite for more information call toll free 800.511.7037
or contact@tripplevy