An investigation on behalf of investors of Concur Technologies, Inc. (NASDAQ:CNQR) in connection with the proposed takeover was announced and NASDAQ:CNQR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/22/2014 -- An investigation on behalf of investors, who currently hold shares of Concur Technologies, Inc. (NASDAQ:CNQR), was announced concerning whether the takeover of Concur Technologies, Inc. by SAP SE for $129 per share is unfair to NASDAQ:CNQR stockholders.
Investors who purchased shares of Concur Technologies, Inc. (NASDAQ:CNQR) and currently hold any of those NASDAQ:CNQR 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 Concur Technologies, Inc. breached their fiduciary duties owed to NASDAQ:CNQR investors in connection with the proposed acquisition.
On September 18, 2014, SAP SE (NYSE: SAP) and Concur Technologies, Inc. (NSDQ: CNQR) announced that SAP’s subsidiary, SAP America, Inc., has entered into an agreement to acquire Concur Technologies, Inc. Under the terms of the proposed transaction Concur Technologies, Inc shareholders will receive $129 per NASDAQ:CNQR share.
However, given that at least one analyst has set the high target price for NASDAQ:CNQR shares at $130.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:CNQR stockholders. More specifically, the investigation concerns whether the Concur Technologies 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.
Concur Technologies, Inc. reported that its Total Revenue rose from $292.94 million for the 12 months period that ended on Sept. 30, 2010 to $545.80 million for the 12 months period that ended on Sept. 30, 2013. Shares of Concur Technologies, Inc. (NASDAQ:CNQR) grew from $34.50 per share in August 2011 to as high as $127.01 per share in February 2014.
Those who are current investors in Concur Technologies, Inc. (NASDAQ:CNQR) 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