Cerevel’s Merger with AbbVie for $45 Per Share Leads to Investigation - Contact BFA Law to Discuss How this Impacts You

Rhea-AI Summary

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.

Positive

• AbbVie to acquire Cerevel Therapeutics for $45 per share.
• Transaction valued at $8.7 billion.
• Boards of directors for both companies have approved the transaction.
• Expected to close mid-2024.

Negative

• Investigation by BFA into potential conflicts and unfair process by Cerevel's board.
• Claims that the $45 per share offer undervalues Cerevel's shares.
• Potential legal challenges could delay or impact the merger.

NEW YORK, NY / ACCESSWIRE / May 24, 2024 / Leading law firm Bleichmar Fonti & Auld LLP is investigating the merger between (Nasdaq:CERE) Cerevel Therapeutics Holdings, Inc. and AbbVie, Inc. If you invested in Cerevel Therapeutics you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation.

Claim Details:

On December 6, 2023, Cerevel Therapeutics announced that it would be acquired by AbbVie. Under the terms of the transaction, AbbVie will acquire all outstanding shares of Cerevel for $45.00 per share in cash. The transaction values Cerevel at a total equity value of approximately $8.7 billion. The boards of directors of both companies have approved the transaction. This transaction is expected to close in the middle of 2024.

BFA is currently investigating the go private transaction and believes that Cerevel Therapeutics' board of directors was conflicted, engaged in an unfair process, and agreed to an unfair amount to be paid to shareholders.

Click here https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation for more details.

Next Steps:

If you currently own shares of Cerevel Therapeutics you may have legal options.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

To speak with an attorney for more information visit:

https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation

Or contact us at:

Ross Shikowitz
ross@bfalaw.com
212-789-2303

Why Bleichmar Fonti & Auld LLP?

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder derivative litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation

Attorney advertising. Past results do not guarantee future outcomes.

SOURCE: Bleichmar Fonti & Auld LLP

View the original press release on accesswire.com

FAQ

What is the value of AbbVie's acquisition of Cerevel Therapeutics (CERE)?

The acquisition is valued at $8.7 billion.

How much will shareholders receive per share in the AbbVie and Cerevel (CERE) merger?

Shareholders will receive $45 per share in cash.

When is the expected closure date for AbbVie's acquisition of Cerevel (CERE)?

The transaction is expected to close in mid-2024.

Why is BFA investigating the merger between AbbVie and Cerevel (CERE)?

BFA is investigating claims that Cerevel's board was conflicted and engaged in an unfair process, potentially undervaluing the shares.

What legal options do shareholders of Cerevel (CERE) have regarding the merger?

Shareholders may have legal options and can seek more information by visiting BFA's dedicated webpage for the investigation.