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On May 24, 2024, leading law firm Bleichmar Fonti & Auld LLP (BFA) announced an investigation into the merger between Cerevel Therapeutics (Nasdaq: CERE) and AbbVie. The acquisition deal, valued at $8.7 billion, will see AbbVie purchasing all outstanding Cerevel shares at $45 per share in cash. The boards of both companies have approved the transaction, which is expected to close mid-2024.
BFA is investigating claims that Cerevel's board was conflicted and engaged in an unfair process, potentially undervaluing the shares. Shareholders are encouraged to seek more information about their legal options through BFA's dedicated webpage. Representation is offered on a contingency basis, meaning shareholders incur no costs unless a recovery is made.
Bleichmar Fonti & Auld LLP (BFA) is investigating the merger between Cerevel Therapeutics Holdings and AbbVie, announced on December 6, 2023. AbbVie will acquire all outstanding shares of Cerevel for $45 per share in cash, valuing Cerevel at approximately $8.7 billion. The transaction has been approved by the boards of both companies and is expected to close in mid-2024. BFA is probing into potential conflicts of interest and unfair processes in the decision-making that could have led to an undervaluation of Cerevel’s shares. Shareholders of Cerevel are encouraged to seek legal advice and explore their options.
BFA LLP has announced an investigation into the merger between Cerevel Therapeutics (NASDAQ: CERE) and AbbVie. Under the merger terms, AbbVie will buy all outstanding shares of Cerevel for $45.00 per share in cash, valuing the company at approximately $8.7 billion. This transaction, approved by the boards of directors of both companies, is set to close in mid-2024. BFA LLP suspects that Cerevel's board was conflicted and agreed to an unfair price for shareholders. Shareholders may have legal options and can obtain more information or legal representation on a contingency fee basis by visiting BFA's website or contacting them directly.