ACQUISITION ALERT BFA LLP Notifies Cerevel Therapeutics Shareholders of an Investigation into the Merger with AbbVie

Rhea-AI Summary

BFA LLP has announced an investigation into the merger between Cerevel Therapeutics (NASDAQ: CERE) and AbbVie. Under the merger terms, AbbVie will buy all outstanding shares of Cerevel for $45.00 per share in cash, valuing the company at approximately $8.7 billion. This transaction, approved by the boards of directors of both companies, is set to close in mid-2024. BFA LLP suspects that Cerevel's board was conflicted and agreed to an unfair price for shareholders. Shareholders may have legal options and can obtain more information or legal representation on a contingency fee basis by visiting BFA's website or contacting them directly.

Positive

• AbbVie will acquire Cerevel Therapeutics for $45.00 per share, providing a premium payout to current shareholders.
• The acquisition values Cerevel at approximately $8.7 billion, indicating strong market confidence.
• The merger has been approved by the boards of both companies, suggesting a smooth transition.

Negative

• BFA LLP is investigating the merger, suggesting potential conflicts of interest among Cerevel's board members.
• Concerns have been raised about the fairness of the $45.00 per share price, hinting at possible undervaluation.
• The investigation could lead to legal proceedings, potentially delaying the transaction and impacting shareholder value.

NEW YORK, NY / ACCESSWIRE / May 16, 2024 / If you invested in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation or contacting us below.

Claim Details:

On December 6, 2023, Cerevel Therapeutics announced that it would be acquired by AbbVie. Under the terms of the transaction, AbbVie will acquire all outstanding shares of Cerevel for $45.00 per share in cash. The transaction values Cerevel at a total equity value of approximately $8.7 billion. The boards of directors of both companies have approved the transaction. This transaction is expected to close in the middle of 2024.

BFA is currently investigating the go private transaction and believes that Cerevel Therapeutics' board of directors was conflicted, engaged in an unfair process, and agreed to an unfair amount to be paid to shareholders.

Click here https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation for more details.

Next Steps:

If you currently own shares of Cerevel Therapeutics you may have legal options.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

To speak with an attorney for more information visit:

https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation

Or contact us at:

Ross Shikowitz
ross@bfalaw.com
212-789-2303

Why Bleichmar Fonti & Auld LLP?

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder derivative litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/cerevel-therapeutics-holdings-inc-investigation

Attorney advertising. Past results do not guarantee future outcomes.

SOURCE: Bleichmar Fonti & Auld LLP

View the original press release on accesswire.com

FAQ

What is the value of the Cerevel Therapeutics acquisition by AbbVie?

The acquisition is valued at approximately $8.7 billion.

How much will AbbVie pay per share to acquire Cerevel Therapeutics?

AbbVie will pay $45.00 per share in cash.

When is the Cerevel Therapeutics and AbbVie merger expected to close?

The transaction is expected to close in mid-2024.

Why is BFA LLP investigating the merger between Cerevel Therapeutics and AbbVie?

BFA LLP believes that Cerevel's board was conflicted and that the agreed-upon price was unfair to shareholders.

What legal options are available to Cerevel Therapeutics shareholders regarding the merger?

Shareholders may obtain legal representation on a contingency fee basis and seek more information by visiting BFA's website.