Shareholders Foundation, Inc.

Bankrate Inc (NYSE:RATE) Investor Investigation over Possible Wrongdoing in Buyout

An investigation on behalf of investors of Bankrate Inc (NYSE:RATE) in connection with the proposed takeover was announced and NYSE:RATE stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 07/11/2017 -- An investigation on behalf of investors, who currently hold shares of Bankrate Inc (NYSE:RATE), was announced concerning whether the takeover of Bankrate Inc . by Red Ventures for $14.00 per share is unfair to NYSE:RATE stockholders.

Investors who purchased shares of Bankrate Inc (NYSE:RATE) and currently hold any of those (NYSE:RATE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain officers and directors of Bankrate Inc breached their fiduciary duties owed to NYSE:RATE investors in connection with the proposed acquisition.

On July 3, 2017 Bankrate Inc (NYSE:RATE) announced that it has entered into an agreement to be acquired by Red Ventures in an all-cash transaction that values Bankrate at an enterprise value of approximately $1.4 billion. Under the terms of the merger agreement, Bankrate Inc (NYSE:RATE) shareholders will receive $14.00 per share in cash.

However, given that at least one analyst has set the high price target for NYSE:RATE shares at $15.00 per share, the investigation concerns whether the offer is unfair to NYSE:RATE stockholders. More specifically, the investigation concerns whether the Bankrate 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 Bankrate Inc (NYSE:RATE) closed on July 10, 2017 at $13.90 per share.

Those who are current investors in Bankrate Inc (NYSE:RATE) 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