Exactech (EXAC) Alert: Johnson Fistel Investigates Proposed Sale of Exactech, Inc.; Is $42 A Fair Price?

SAN DIEGO, Oct. 23, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Exactech, Inc. (NASDAQ: EXAC) ("Exactech ") breached their fiduciary duties in connection with the proposed sale of the Company to TPG Capital ("TPG"). Exactech develops, manufactures, markets, distributes, and sells orthopedic implant devices, related surgical instrumentation, and biologic services.

On October 23, 2017, Exactech announced that it had signed a definitive merger agreement with TPG. Under the terms of the deal, TPG will pay $42.00 for each Exactech share, other than certain shares owned by management stockholders. Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG to vote all of their shares in favor of the merger and to exchange a significant portion of their shares for new shares in the parent entity immediately following the merger. Upon completion of the transaction, Exactech will be a privately-held company.

The investigation concerns whether the Exactech board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Exactech shares of common stock. Nationally recognized Johnson Fistel investigation focuses on whether the board of directors including the founders at Exactech is undertaking a fair process to obtain maximum value that adequately compensates its shareholders.

If you are a shareholder of Exactech and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

View original content:http://www.prnewswire.com/news-releases/exactech-exac-alert-johnson-fistel-investigates-proposed-sale-of-exactech-inc-is-42-a-fair-price-300541130.html

SOURCE Johnson Fistel, LLP