Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of BioMimetic Therapeutics Inc. (BMTI)

NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of BioMimetic Therapeutics Inc. (“BioMimetic” or the “Company”) (NASDAQ: BMTI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Wright Medical Group Inc. (“WMGI”) (NASDAQ: WMGI) in a cash-and-stock deal valued at approximately $380 million. Under the terms of the proposed transaction, BioMimetic’s stockholders will receive $1.50 in cash and 0.2482 of a WMGI share for each share of BioMimetic common stock they own. The transaction values the proposed consideration at approximately $6.47 based on WMGI’s closing stock price on Friday, November 16, 2012, while according to Yahoo! Finance, at least one financial analyst has set a price target of $7.50 for BioMimetic.