ArthroCare Investor Sues To Halt $2B Smith & Nephew Merger

Law360, Wilmington (February 5, 2014, 4:23 PM EST) -- An ArthroCare Corp. shareholder fired off a putative class action Tuesday in Delaware Chancery Court, seeking to stop Smith & Nephew PLC's proposed $1.7 billion acquisition that the investor claims undervalues the company and stiffs investors in the process.

Stephen King argues that the proposed share price of $48.25 is much too low, given that analysts have predicted a $51 average price for the stock in the near term, and that the merger doesn't take into account million of dollars of potential so-called synergies between the...
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