NovaMed Investors Move To Block $214M HIG Merger

Law360, New York (January 28, 2011, 4:24 PM EST) -- Stockholders in ambulatory surgery center operator NovaMed Inc. have filed a putative class action seeking to block a proposed $214 million merger with a unit of private equity firm H.I.G. Capital LLC, saying the deal significantly undervalues NovaMed.

In a complaint filed Thursday in the Delaware Court of Chancery, the investors claim that the $13.25 share price that Surgery Holdings Inc. has proposed to pay “has not sat well” with a number of shareholders because the deal does not take into account potential revenue increases stemming...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.