NEW YORK, May 8, 2014 /PRNewswire/ --The Law Office of James C. Kelly is investigating claims on behalf of investors of Chelsea Therapeutics International, Ltd. ("Chelsea" or the "Company") (NASDAQ: CHTP), concerning the proposed acquisition of Chelsea by H. Lundbeck A/S ("Lundbeck"). Chelsea shareholders seeking more information about this acquisition are advised to contact James C. Kelly at 888.643.7517 or jkelly@jckellylaw.com.
The investigation concerns whether the Chelsea directors are breaching their fiduciary duties by failing to adequately pursue alternatives to the acquisition and maximize shareholder value. Under the terms of the definitive merger agreement, Chelsea stockholders will receive $6.44 per share in exchange for each share of Chelsea they own. Chelsea shareholders could earn up to an additional $1.50 per share pursuant to certain contingent value rights ("CVRs") if certain commercial milestones are achieved related to the commercial performance of one of the Company's products in the period 2015-2017. If the CVRs are satisfied, the deal could be worth $658 million.
However, some analysts have set a $12.00 per share price target for Chelsea, which is approximately 51% more than what Chelsea shareholders are expected to receive even assuming the CVRs are satisfied. Moreover, the Company recently traded as high as $6.26 per share on March 19, 2014.
The Law Office of James C. Kelly has extensive experience representing shareholders in mergers and acquisition actions. Visit out website for additional information at http://www.jckellylaw.com.
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SOURCE The Law Office of James C. Kelly
