Animal Health Investor Contests $251M Lextron Deal

Law360, New York (March 25, 2011, 8:59 PM EDT) -- A shareholder of Texas-based Animal Health International Inc. filed a proposed class action Friday challenging Lextron Inc.'s $251 million buyout bid for the company, saying the price was inadequate and the result of conflicting loyalties among AHII directors.

Most of AHII’s board members were beholden to the company’s largest shareholder, Charlesbank Capital Partners LLC, and caved to the private equity firm’s desire to liquidate its stake in the veterinary products distributor quickly without seeking a better offer for shareholders, according to a complaint lodged by Hilary...
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