(MGLN) Alert: Johnson Fistel Investigates Proposed Sale of Magellan Health; Is $95 a Fair Price?
January 04, 2021 at 09:00 AM EST
SAN DIEGO, Jan. 4, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Magellan Health, Inc. (NASDAQ: MGLN) breached their fiduciary duties in connection with the proposed sale of the Company to Centene Corporation (NYSE: CNC).
On January 4, 2021, Magellan Health announced that it had entered into a definitive merger agreement with Centene. Under the terms of the acquisition agreement, Magellan Health shareholders will receive $95.00 per share in cash.
The investigation concerns whether the Magellan Health board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Magellan Health shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth.
If you are a shareholder of Magellan Health and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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