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BASF to Buy Verenium for $4 per share

BASF to Buy Verenium for $4 per share

Are Verenium (VRNM) shareholders getting a fair deal in announced buyout by BASF?

Verenium announced it has entered into a definitive merger agreement with BASF, a leading chemicals company, under which BASF will commence a cash tender offer for all of the outstanding shares of Verenium's common stock.  The board of directors for both companies have unanimously approved the transaction.  Under the terms of the Verenium merger agreement, holders of outstanding shares of Verenium's common stock will receive $4.00 per share.

BASF’s takeover of Verenium raises an obvious question:  Is this the best the VRNM board could do?

If you own the common stock of Verenium and are concerned about the transaction and would like to learn more about how to begin a cost free corporate review of this merger, please fill out the contact form on this web page or call Attorney George Pressly at 1-(800)-631-6234.

Verenium board of directors owe VRNM shareholders specific duties when selling the company

  • Is $4.00 per share a fair price for VRNM shareholders? 
  • Does the merger agreement contain an unfair termination provision?  
  • Does the merger agreement limit the ability of Verenium to obtain additional suitors or to accept additional proposals?  BASF is the world’s biggest chemical maker.  BASF is attempting to close the gap on market leaders DuPont Co. and Novozymes in the $3 billion industrial enzyme industry.  Were these two companies approached?
  • Did the Verenium board of directors obtain a fairness opinion from an independent investment bank?
  • What did the independent fairness show?  
  • Did the board of directors engage other potential suitors?
  • Will the proxy statement contain accurate and complete disclosures about future executive compensation packages?

Verenium (VRNM) merger or takeover shareholder lawsuit investigation

State security laws provide shareholders a no cost means to question a proposed sale of a publicly traded company.  This review process is deemed a shareholder class action and affords at times shareholders an avenue to investigate fully the proposed transaction.  At minimum, this process often obtains answers to the above questions.  If you own the common stock of Verenium and if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please fill out the contact form on this web page.