Under the terms of the deal, BioLife shareholders are slated to receive $11.25 in cash and 0.1442 shares of Repligen common stock for each share held. This package represents a total value of $31.00 per share, with the consideration split between 64% stock and 36% cash.

Ademi LLP’s inquiry focuses on potential conflicts of interest, specifically questioning whether BioLife insiders are receiving disproportionate benefits through change-of-control arrangements. Investigators are also challenging the merger agreement’s restrictive nature, noting that it imposes significant penalties on BioLife should the board attempt to entertain competing bids. The firm is currently evaluating whether these conditions unfairly prioritize corporate interests over those of the broader investor base.