San Diego, CA -- (SBWire) -- 08/29/2018 --An investigation was announced concerning whether the acquisition of The Navigators Group, Inc. by The Hartford Financial Services Group is unfair to NASDAQ: NAVG stockholders.
Investors who purchased shares of The Navigators Group, Inc. (NASDAQ: NAVG) and currently hold any of those NASDAQ: NAVG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of The Navigators Group, Inc. breached their fiduciary duties owed to NASDAQ: NAVG investors in connection with the proposed acquisition.
On Aug. 22, 2018, The Navigators Group, Inc. (NASDAQ:NAVG) announced that it has entered into an agreement to be acquired by The Hartford Financial Services Group, Inc. (NYSE: HIG) in an all-cash transaction that values The Navigators Group, Inc at approximately $2.1 billion. Under the terms of the agreement, The Navigators Group, Inc stockholders will receive $70.00 per share in cash upon the closing of the transaction.
However, given that The Navigators Group's founder, and shares controlled by other members of his family, which represent approximately 20% of total shares outstanding, have already agreed to vote in support of Navigators' transaction with The Hartford, the investigation concerns whether the offer is unfair to NASDAQ: NAVG stockholders. More specifically, the investigation concerns whether the Navigators Group 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.
The Navigators Group, Inc. (NASDAQ: NAVG) reported that its annual Total Revenue rose from over $1.18 billion in 2016 to over $1.31 billion in 2017.
Shares of The Navigators Group, Inc. (NASDAQ: NAVG) closed on August 28, 2018, at $69.53 per share.
Those who are current investors in The Navigators Group, Inc. (NASDAQ: NAVG) 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
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:NAVG Investor Alert: Investigation of Takeover of the Navigators Group, Inc
An investigation on behalf of investors of The Navigators Group, Inc. (NASDAQ: NAVG) in connection with the proposed takeover was announced.