MONSEY, N.Y., Jan. 10, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Apria, Inc. (Nasdaq: APR) (“Apria”) acted in the best interests of APR shareholders in approving the proposed acquisition of Apria by Owens & Minor, Inc. (NYSE: 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 alerts@wohlfruchter.com .
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
alerts@wohlfruchter.com
www.wohlfruchter.com