A lawsuit was filed for investors in shares of AdvancePierre Foods Holdings Inc (NYSE:APFH) in connection with the proposed takeover was announced and NYSE:APFH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/23/2017 -- The Shareholders Foundation announces that an investor, who currently holds NYSE:APFH shares, filed a lawsuit against the acquisition of AdvancePierre Foods Holdings Inc. by Tyson Foods, Inc.
Investors who purchased shares of AdvancePierre Foods Holdings Inc (NYSE:APFH) and currently hold any of those NYSE:APFH shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed AdvancePierre Foods Holdings Inc stockholders by agreeing to sell AdvancePierre Foods Holdings Inc cheaply via an unfair process to Tyson Foods, Inc.
On April 25, 2017, Tyson Foods, Inc. and AdvancePierre Foods Holdings Inc (NYSE:APFH) announced that they have entered into a definitive merger agreement pursuant to which a subsidiary of Tyson will launch a tender offer to acquire all of AdvancePierre's outstanding common shares for $40.25 per share in cash.
However, plaintiff claims that the proposed consideration NYSE:APFH shareholders will receive is grossly inadequate and undervalues AdvancePierre Foods Holdings Inc. In addition, the plaintiff alleges that the process is also unfair NYSE:APFH stockholders. Indeed, certain funds affiliated with Oaktree Capital Management, L.P. ("Oaktree"), which own approximately 42 percent of the outstanding shares of AdvancePierre common stock, have already entered into a tender and support agreement pursuant to which those funds have agreed to tender their AdvancePierre shares pursuant to the tender offer.
On May 22, 2017, shares of AdvancePierre Foods Holdings Inc (NYSE:APFH) closed at $40.22 per share
Those who are current investors in AdvancePierre Foods Holdings Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com