An investigation on behalf of investors of Arctic Cat Inc in connection with the proposed takeover was announced and NASDAQ:ACAT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/30/2017 -- The acquisition of Arctic Cat Inc is under investigation over potential wrongdoing. The investigation on behalf of investors, who currently hold NASDAQ:ACAT shares, was announced concerning whether the takeover of Arctic Cat Inc by Textron Inc for $18.50 per share is unfair.
Investors who purchased shares of Arctic Cat Inc (NASDAQ:ACAT) and currently hold any of those NASDAQ:ACAT shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Arctic Cat Inc breached their fiduciary duties owed to NASDAQ:ACAT investors in connection with the proposed acquisition.
On January 25, 2017, Arctic Cat Inc (NASDAQ:ACAT) announced that it has signed a merger agreement under which Textron Inc. (NYSE: TXT) will acquire Arctic Cat in a cash transaction valued at approximately $247 million, plus the assumption of existing debt. Under the terms of the agreement Textron, through a wholly owned subsidiary, will commence a tender offer to purchase all outstanding shares of Arctic Cat Inc (NASDAQ:ACAT) at $18.50 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:ACAT shares at $20.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:ACAT stockholders. More specifically, the investigation concerns whether the Arctic Cat Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Arctic Cat Inc (NASDAQ:ACAT) reached in 2015 as high as $39.00 per share.
On January 27, 2017, NASDAQ:ACAT shares closed at $19.23 per share.
Those who are current investors in Arctic Cat Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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