Acquisition of Conceptus, Inc. by Bayer HealthCare LLC May Not Be in the Best
Interests of Conceptus Shareholders
SAN DIEGO and MOUNTAIN VIEW, Calif., April 29, 2013
SAN DIEGOand MOUNTAIN VIEW, Calif., April 29, 2013 /PRNewswire/
--Shareholder rights attorneys at Robbins Arroyo LLP are investigating the
acquisition of Conceptus, Inc. (NASDAQ: CPTS) by Bayer HealthCare LLC. On
April 29, 2013, Bayer announced the signing of a merger agreement with
Conceptus whereby Bayer will launch a public tender offer to acquire all the
shares of Conceptus for $31.00 per share. The transaction is expected to
close by mid-year 2013. Conceptus is best known for developing the Essure
procedure, the only surgery-free permanent birth control method.
The Board of Directors' Actions May Prevent Conceptus Shareholders from
Receiving Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors
at Conceptus is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders in the merger. On February 5, 2013,
Conceptus released its fourth quarter 2012 and full year 2012 earnings
reflecting strong sales and revenues. Notably, the fourth quarter 2012
experienced substantial growth in: (i) total revenues, which were up 21.5% to
$40.7 million, (ii) U.S. sales, up 19.3% to $32.2 million and; (iii)
international sales, which experienced a growth of 30.8% to $8.5 million.
Further, the full year 2012 experienced similar success, with: (i) total
revenue reaching $140.7 million, a 10.8% increase, (ii) U.S. sales growing
13.1% to $109.1 million, and; (iii) international sales up 3.6% percent to
$31.6 million. Moreover, Conceptus expects its success to continue, estimating
2013 sales to be in the range of $155 million to $159 million, a growth of 10%
to 13% over 2012 sales.
Given these facts, the firm is examining the board of directors' decision to
sell Conceptus now rather than allow shareholders to continue to participate
in the company's continued success and future growth prospects.
Conceptus shareholders have the option to file a class action lawsuit to
secure the best possible price for shareholders and the disclosure of material
information so shareholders can vote on the transaction in an informed manner.
Conceptus shareholders interested in information about their rights and
potential remedies can contact Darnell R. Donahue at (800) 350-6003,
email@example.com, or via the shareholder information form on the
Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to http://www.robbinsarroyo.com.
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Attorney Advertising. Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP
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