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STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Cogdell Spencer, Inc. (aCogdell Spencera) (NYSE: CSA) and other violations of state law by the board of directors of Cogdell Spencer relating to the proposed acquisition of the company by Ventas, Inc. (aVentasa). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.

On December 27, 2011, Cogdell Spencer and Ventas announced that they had entered into a definitive merger agreement. According to the announcement, Ventas will acquire all shares of Cogdell Spencer common stock and its 72 high quality medical office buildings in an all-cash transaction for $4.25 per share. Under the terms of the agreement, holders of Cogdellas preferred stock will receive consideration of $25.00 per share, plus accrued and unpaid dividends through the closing. However, according to Yahoo! Finance at least one analyst has set a high price target of $6.00 per share. Furthermore, Cogdell Spencer recently traded as high as $6.31 on July 7th, 2011.

If you currently own shares of Cogdell Spencer and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Brower Piven is a Maryland-based firm that is experienced with the Maryland legal standards that will apply in seeking to protect shareholders' rights. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.