Investors Challenge Proposed XOMA’s $39-Per-Share Deal with Ligand
XOMA Royalty Corporation agreed to be acquired by Ligand Pharmaceuticals for $39 per share, prompting an investigation into potential fiduciary breaches and terms that may limit competing bids. Shareholders are advised to evaluate their rights and may seek increased consideration or additional disclosures through litigation.
1. Proposed Ligand Acquisition
XOMA Royalty Corporation agreed to be acquired by Ligand Pharmaceuticals Incorporated at $39 per share, pending regulatory and shareholder approvals.
2. Investigation of Deal Terms
Halper Sadeh LLC is investigating potential federal securities law violations and breaches of fiduciary duty, highlighting terms that insiders may benefit from and possible restrictions on superior competing bids.
3. Shareholder Legal Options
Shareholders may pursue legal action on a contingent fee basis to seek increased deal consideration, additional disclosures or other relief, with a focus on maximizing their recovery before the transaction closes.