Levi & Korsinsky is investigating the Board of Directors of Relypsa, Inc. (NASDAQGS: RLYP) in connection with the sale of the Company to Galenica Group. Under the terms of the transaction, Relypsa shareholders will receive $32.00 in cash for each share of Relypsa stock they own. The transaction has a total approximate value of $1.53 billion.
The investigation concerns whether the Board of Relypsa breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Galenica Group is underpaying for Relypsa shares. In particular, at least one analyst has set a price target of $51.00 per Relypsa share.
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