PGNX - Progenics To Be Acquired By Lantheus Holdings: Deciding To Buy Sell Or Hold
On October 2nd, Lantheus Holdings (LNTH) Progenics Pharmaceuticals (PGNX), announced an agreement for Lantheus to acquire Progenics in an all-stock transaction. According to the press release, "the transaction has been unanimously approved by the Boards of Directors of both companies." Unfortunately, not every shareholder is supporting the company's decision, most notably, Velan Capital is concerned that the deal "substantially undervalues the Company and is a transparent and shameful maneuver attempting to prevent the voices of stockholders from being fairly heard." Based on the details and value of LNTH, the deal