San Diego, CA -- (SBWire) -- 02/08/2018 --An investigation was announced for investors, who currently hold shares of Ply Gem Holdings Inc (NYSE:PGEM), concerning whether the takeover of Ply Gem Holdings Inc. by Clayton, Dubilier & Rice is unfair.
Investors who purchased shares of Ply Gem Holdings Inc (NYSE:PGEM) and currently hold any of those NYSE:PGEM 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 officers and directors of Ply Gem Holdings Inc breached their fiduciary duties owed to NYSE:PGEM investors in connection with the proposed acquisition.
On January 31, 2018, Ply Gem Holdings Inc (NYSE:PGEM) and Clayton, Dubilier & Rice (CD&R) announced an agreement under which CD&R funds will acquire all of the outstanding shares of Ply Gem common stock in a go-private transaction valued at approximately $2.4 billion. Ply Gem's board of directors approved the agreement, which provides for the payment of $21.64 per share in cash to all holders of Ply Gem common stock.
However, the investigation concerns whether the offer is unfair to NYSE:PGEM stockholders. More specifically, the investigation concerns whether the Ply Gem Holdings 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.
Ply Gem Holdings Inc reported that its annual Total Revenue rose from over $1.83 billion in 2015 to over $1.91 billion in 2016 and that its Net Income increased from $32.29 million in 2015 to $75.49 million in 2016.
On February 7, 2018, NYSE:PGEM shares closed at $21.45 per share.
Those who are current investors in Ply Gem Holdings Inc (NYSE:PGEM) 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
NYSE:PGEM Investor Alert: Investigation over Possible Wrongdoing in Acquisition of Ply Gem Holdings Inc
An investigation on behalf of investors of Ply Gem Holdings Inc (NYSE:PGEM) in connection with the proposed takeover was announced and NYSE:PGEM stockholders should contact the Shareholders Foundation.