MONSEY, N.Y., Jan. 10, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Apria, Inc. ( APR) (“Apria”) acted in the best interests of APR shareholders in approving the proposed acquisition of Apria by Owens & Minor, Inc. (: OMI) (“O&M”). If you remain an APR shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/apria/
Alternatively, you may contact us by phone at 866-833-6245, or via email at [email protected].
Why is there an investigation?
On January 10, 2022, before the markets opened, O&M and Apria announced that the companies had entered into an agreement for O&M to acquire Apria for $37.50 per share in cash. The deal has already been approved by the board of directors of both companies.
Wohl & Fruchter’s investigation concerns whether Apria’s board acted in the best interests of APR shareholders in approving the acquisition by O&M, including whether the acquisition price adequately compensates APR shareholders, and whether all information regarding approval of the transaction has been fully disclosed.
In particular, based on 4 Wall Street analysts offering 12-month price targets for Apria in the last 3 months, the average price target is $40.00 with a high forecast of $41.00, which are both above the proposed acquisition price of $37.50. Moreover, in November 2021, Citigroup analyst Ralph Giacobbe resumed coverage of Apria with a buy rating and $39 price target. He wrote that the company stands to benefit from increased demand for oxygen due to Long COVID, and an increase in demand for sleep apnea supplies.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
[email protected]
www.wohlfruchter.com
