NEW YORK, Nov. 5, 2012 (GLOBE NEWSWIRE) -- Kirby McInerney LLP is investigating potential claims against the Board of Directors of Metropolitan Health Networks, Inc. ("Metropolitan" or the "Company") related to the proposed acquisition of the Company by Humana Inc. ("Humana") for $11.25 per share in cash. The transaction values the Company at approximately $850 million.
The investigation concerns whether the Metropolitan Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $11.25 per share cash consideration adequately values Metropolitan common shares. The offer price represents a mere 3.7% premium to the closing price of the Company's shares on November 2, 2012 (the trading day before the proposed transaction was announced), and analysts have set price targets as high as $13 per share.
If you are a Metropolitan shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org or by telephone at (212) 371-6600 or (888) 529-4787.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please visit www.kmllp.com.
Source:Kirby McInerney LLP