Investor Accuses Kensey Nash Of Shortchanging Stockholders

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A 33 percent stock premium on the buyout of Kensey Nash, an Exton manufacturer of medical devices, that can be absorbed in the body just isn’t enough, one investor has claimed in a new Delaware lawsuit.

“‘The buyout is a product of a flawed process that is designed to ensure the sale of Kensey Nash to DSM on terms preferential to DSM but detrimental’ to shareholders,” Hilary Coyne’s lawyers wrote in the legal challenge, named Coyne v. Kensey Nash, according to a Bloomberg report.

Kensey Nash had struck a $360 million deal to be acquired by the Netherlands’ Royal DSM NA; that translates to $38.50 per share, which is about where the stock is now trading.

Coyne seeks to make the challenge a class action lawsuit.

Read more about the lawsuit on Bloomberg here.

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