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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Alder BioPharmaceuticals, Inc. (“Alder” or the “Company”) (NASDAQ: ALDR) to H. Lundbeck A/S (“Lundbeck”). Under the terms of the deal, Lundbeck will commence a tender offer for all outstanding shares of Alder, whereby Alder stockholders will be offered an upfront payment of $18.00 per share in cash and one non-tradeable Contingent Value Right that entitles them to an additional $2.00 per share upon approval of eptinezumab by the European Medicines Agency.
The Alder merger investigation concerns whether the Board of Alder breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Lundbeck is underpaying for Alder shares, thus unlawfully harming Alder shareholders.
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