Lundy Law is investigating potential claims against the Board of Directors of Health Net, Inc. (“Health Net” or the “Company”) (NYSE: HNT) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to Centene Corporation (“Centene”) in a transaction valued at approximately $6.3 billion. Under the terms of the proposed transaction, Health Net shareholders will receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock they own, for a total consideration of $78.57 based on Centene’s July 1, 2015 closing price.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company, and whether the Board of Directors of Health Net adequately pursued alternatives to the proposed transaction and is achieving the best possible value for the Company’s shareholders. At least one analyst has set a target price of $75.00, and Wall Street analysts have projected future growth for the Company.
If you own shares of Health Net common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/HNT.
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