Management Buyout of American Surgical Investigated by Tripp Levy PLLC
NEW YORK, Dec 27, 2010 (BUSINESS WIRE) -- Tripp Levy PLLC, a leading national
securities law firm, announces an investigation into the acquisition of American
Surgical Holdings, Inc. (ASRG). On December 20, 2010, American Surgical announced
that it had entered into a definitive merger agreement pursuant to which American
Surgical will be acquired and taken private by AH Holdings Inc., an affiliate of
Great Point Partners, I LP ("GPP"). Under the terms of the definitive merger
agreement, at the closing of the transaction American Surgical's stockholders
will receive $2.87 per share in cash.
Certain members of American Surgical's management team will receive a 14.9%
ownership interest in the buyer. In addition, management of American Surgical
have agreed to vote their 60% interest in favor of the transaction.
The investigation concerns, among other things, whether the consideration to be
paid to American Surgical shareholders is grossly unfair, inadequate, and
substantially below the fair or inherent value of American Surgical. Indeed,
analysts have projected that the true inherent value of the company is worth
approx. $3.40 per share. The investigation further concerns whether management
and the directors of American Surgical may not be acting in American Surgical
shareholders' best interests in connection with the proposed transaction.
If you own American Surgical common stock and you wish to discuss this matter
with us, or have any questions concerning your rights and interests with regard
to this matter, please contact:
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street
9th Floor
New York, New York
Toll Free: 877-772-3975
Email: contact@tripplevy.com
SOURCE: Tripp Levy PLLC
Tripp Levy PLLC
Tripp Levy, 877-772-3975
contact@tripplevy.com
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