"The company does not intend to comment further regarding this process"
RESEARCH TRIANGLE PARK, N.C., Feb. 8, 2013 (GLOBE NEWSWIRE) -- Tranzyme, Inc. (Nasdaq:TZYM) announced today that its Board of Directors has made a determination to explore and evaluate strategic alternatives, including the possibility of a merger, sale, other form of business combination, or other transaction to maximize value to its stockholders.
The Company has not made a decision to pursue any specific transaction or other strategic alternative, and there is no set timetable for the strategic review process. There can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction. The Company does not intend to comment further regarding this process until such time as its Board of Directors has determined the outcome of the process or otherwise has deemed that disclosure is required or appropriate.
The Company has retained Stifel as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel to assist with the strategic review process.
