UPDATE
We have renewed our investigation into the fairness of the proposed sale of Silk Road Medical, Inc. (Nasdaq: SILK) (“SILK”) to Boston Scientific Corporation (“Boston Scientific”) for $27.50 per share in cash.
On July 29, 2024, SILK filed a definitive proxy concerning the proposed sale with the SEC.
Based on our review of the proxy, we have renewed our investigation into whether there are any undisclosed potential conflicts of interest.
If you remain a SILK shareholder and question the fairness of the price or have any other concerns, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
ORIGINAL
We are investigating the fairness of the price of $27.50 per share in cash for which Silk Road Medical, Inc. (Nasdaq: SILK) (“SILK”) has agreed to be sold to Boston Scientific Corporation (“Boston Scientific”). The sales price is below the price target for SILK of at least one Wall Street analyst (source: TipRanks).
If you remain a SILK shareholder and question the fairness of the price, you may contact to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On June 18, 2024, SILK announced that it had agreed to be sold to Boston Scientific for $27.50 per share in cash.
“We are investigating whether the SILK Board of Directors acted in the best interests of SILK shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to SILK shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $27.50 per share is below the price target for SILK of $32.00 per share set by David Toung of Argus Research on June 14, 2024.
The sales price is also below SILK’s 52-week high of $33.78 per share, which indicates that the purchase may be opportunistic.