An investigation for shareholders of Boulder Brands Inc (NASDAQ:BDBD) in connection with the proposed takeover was announced and NASDAQ:BDBD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/21/2015 -- An investigation on behalf of investors, who currently hold shares of Boulder Brands Inc (NASDAQ:BDBD), was announced concerning whether the takeover of Boulder Brands Inc. for $11.00 per share is unfair to NASDAQ:BDBD stockholders.
On November 24, 2015 Pinnacle Foods Inc. and Boulder Brands Inc (NASDAQ:BDBD) announced that they have entered into an agreement for the acquisition of Boulder Brands by Pinnacle Foods.
Investors who purchased shares of Boulder Brands Inc (NASDAQ:BDBD) and currently hold any of those NASDAQ:BDBD 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 Boulder Brands Inc breached their fiduciary duties owed to NASDAQ:BDBD investors in connection with the proposed acquisition.
Under the terms of the agreement, Pinnacle Foods intends to launch a tender offer to acquire all of the outstanding shares of Boulder Brands Inc (NASDAQ:BDBD) for $11.00 per share, in a transaction valued at approximately $975 million, including approximately $265 million of net debt.
However, given that at least one analyst has set the high target price for NASDAQ:BDBD shares at $13.00 per share and that NASDAQ:BDBD shares traded as high as $17.49 per share in April 2014, the investigation concerns whether the offer is unfair to NASDAQ:BDBD stockholders. More specifically, the investigation concerns whether the Boulder Brands 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 December 18, 2015, NASDAQ:BDBD shares closed at $10.97 per share.
Those who are current investors in Boulder Brands Inc (NASDAQ:BDBD) 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