September 16, 2013 (Shareholders Foundation) - An investigation for investors, who currently hold NASDAQ:VPHM shares, was announced concerning whether a takeover of Viropharma Inc would be unfair.
The investigation by a law firm is at an early stage and concerns whether the potential takeover would be unfair to Viropharma investors.
On September 13, 2013, NASDAQ:VPHM shares jumped from $30.32 per share to a close of $39.13 after rumors surface that Viropharma Inc may be a takeover target. Reportedly Sanofi (SAN) and Shire Plc (SHP) mare interested in Viropharma Inc. One article stated that Viropharma Inc hired Goldman Sachs Group Inc to help it with takeover inquiries.
However, the investigation a law firm concerns whether the Viropharma Inc (NASDAQ:VPHM Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Viropharma Inc reported that its annual Total Revenue rose from $310.45 million in 2009 to $544.37 million in 2011, respectively $427.93 million in 2012 and that its Net loss of $11.08 million in 2009 turned into a Net Income of $140.66 million in 2011, respectively $5.61 million in 2012.
Shares of Viropharma Inc (NASDAQ:VPHM) grew from $4.08 per share in March 2009 to as high as $34.76 per share in July 2013.
On Sept. 16, 2013, NASDA: VPHM shares closed at $40.44 per share.