An investigation on behalf of investors of ClubCorp Holdings Inc (NYSE:MYCC) in connection with the proposed takeover was announced and NYSE:MYCC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/10/2017 -- An investigation for investors, who currently hold NYSE:MYCC shares was announced concerning the takeover of ClubCorp Holdings Inc. by affiliates of Apollo Global Management, for $17.12 per share.
Investors who purchased shares of ClubCorp Holdings Inc (NYSE:MYCC) and currently hold any of those NYSE:MYCC 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 directors of ClubCorp Holdings Inc breached their fiduciary duties owed to NYSE:MYCC investors in connection with the proposed acquisition.
On July 09, 2017, ClubCorp Holdings Inc (NYSE:MYCC) announced that it has entered into a an agreement with affiliates of certain investment funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE:APO), pursuant to which the Apollo funds will acquire all of the outstanding shares of ClubCorp Holdings Inc (NYSE:MYCC) for $17.12 per share in cash, or approximately $1.1 billion.
However, given that at least one analyst has set the high target price for NYSE:MYCC shares at $27.00 per share and given that NYSE:MYCC shares traded in the open market in February 2017 as high as $17.45 per share, the investigation concerns whether the offer is unfair to NYSE:MYCC stockholders. More specifically, the investigation concerns whether the ClubCorp 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.
On August 9, 2017, NYSE:MYCC shares closed at $17.05 per share.
Those who are current investors in ClubCorp Holdings Inc 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