An investigation on behalf of investors of Chubb Corp (NYSE:CB) in connection with the proposed takeover was announced and NYSE:CB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/21/2015 -- An investigation for investors, who currently hold shares of Chubb Corp (NYSE:CB), was announced concerning whether the takeover of Chubb Corp. by ACE Limited for a value of approximately $124.13 per share is unfair to NYSE:CB stockholders.
Investors who purchased shares of Chubb Corp (NYSE:CB) and currently hold any of those NYSE:CB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Chubb Corp breached their fiduciary duties owed to NYSE:CB investors in connection with the proposed acquisition.
On JULY 1, 2015, ACE Limited (NYSE: ACE) and The Chubb Corporation (NYSE: CB) announced that the Boards of Directors of both companies have approved an agreement under which ACE Limited will acquire Chubb Corp (NYSE:CB).
Under the terms of the transaction, Chubb Corp (NYSE:CB) shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock. Based on the closing price of ACE stock on June 30, 2015, the total value is approximately $124.13 per Chubb share, or $28.3 billion in the aggregate.
However, the investigation concerns whether the offer is unfair to NYSE:CB stockholders. More specifically, the investigation concerns whether the Chubb 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 Chubb Corp (NYSE:CB) closed on July 17, 2015, at $122.06 per share.
Those who are current investors in Chubb Corp (NYSE:CB) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego