An investigation on behalf of investors of Blue Nile Inc (NASDAQ:NILE) in connection with the proposed takeover was announced and NASDAQ:NILE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/16/2016 -- The takeover of Blue Nile Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold NASDAQ:NILE shares, concerning whether the takeover of Blue Nile Inc. by an Investor Group comprised of funds managed by Bain Capital Private Equity and Bow Street LLC for $40.75 per share is unfair.
Investors who purchased shares of Blue Nile Inc (NASDAQ:NILE) and currently hold any of those NASDAQ:NILE 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 directors of Blue Nile Inc breached their fiduciary duties owed to NASDAQ:NILE investors in connection with the proposed acquisition.
On November 07, 2016, Blue Nile (NASDAQ:NILE) announced that it has entered into an agreement to be acquired by an Investor Group comprised of funds managed by Bain Capital Private Equity and Bow Street LLC. Under the terms of the agreement Blue Nile stockholders will receive $40.75 in cash per share.
However, the investigation concerns whether the offer is unfair to NASDAQ:NILE stockholders. More specifically, the investigation concerns whether the Blue Nile 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.
On November 15, 2016, NASDAQ NILE closed at $40.39 per share.
Those who are current investors in Blue Nile Inc shares have certain options and should contact the Shareholders Foundation.