Catalyst Investors Get Short Shrift In $4B SXC Buyout: Suit

Law360, Wilmington (April 20, 2012, 7:39 PM EDT) -- A Catalyst Health Solutions Inc. shareholder on Friday challenged SXC Health Solutions Corp.’s proposed $4.4 billion buyout of the pharmaceutical benefits company, calling the offer “woefully inadequate” in a class action lodged in Delaware.

In a complaint filed in Delaware state court, Catalyst shareholder Hilary Coyne blasts the company’s board for signing off on the deal despite the fact that Catalyst is the fastest-growing pharmacy benefits manager in the U.S.

“Defendants' rationale for a premium price implies a fair price is unsound given the company’s strength...
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