IMS Health Inc. (RX:NYSE)

Law Offices of Howard G. Smith announced that it is investigating potential claims against the board of directors of IMS Health Inc. for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the company to TPG Capital (TPG) and the CPP Investment Board (CPPIB). The investigation concerns the price to be paid by TPG and CPPIB to IMS shareholders and the process by which IMS' Board of Directors is addressing the transaction. Under the agreement, IMS shareholders will receive $22.00 cash for each share of IMS common stock they own.

Kendall Law Group, founded by a former federal judge, began an investigation on behalf of IMS Health Inc. shareholders. The investigation concerns possible breaches of fiduciary duty by the Board of Directors in connection with the proposed acquisition by private equity firm Texas Pacific Group and the CPP Investment Board of Toronto. The transaction is valued at approximately $4 billion, including the assumption of debt. According to the agreement, IMS shareholders will receive $22 in cash for each share owned, which is an almost 31% premium based on the closing price of IMS on November 4, 2009.

Two people familiar with the matter said that IMS Health Inc. is in advanced talks to sell itself to investors led by TPG for about $4 billion. One person, who declined to be named because the talks are private, said that a deal will be announced soon. Bloomberg reported that Gary Gatyas, an IMS spokesman, did not immediately respond to email and telephone messages.