An investigation on behalf of investors of Dover Saddlery, Inc. (NASDAQ:DOVR) in connection with the proposed takeover was announced and NASDAQ:DOVR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/22/2015 -- An investigation on behalf of investors, who currently hold shares of Dover Saddlery, Inc. (NASDAQ:DOVR), was announced concerning whether the takeover of Dover Saddlery, Inc. by a company formed by Webster Capital for $8.50 per share is unfair to NASDAQ:DOVR stockholders.
Investors who purchased shares of Dover Saddlery, Inc. (NASDAQ:DOVR) and currently hold any of those NASDAQ:DOVR 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 Dover Saddlery, Inc. breached their fiduciary duties owed to NASDAQ:DOVR investors in connection with the proposed acquisition.
On April 14, 2015, Dover Saddlery, Inc. announced that it has entered into a merger agreement under which a company formed by Webster Capital will acquire all of the outstanding shares of Dover common stock for $8.50 per share in cash and take Dover private.
However, given that in connection with the execution of the merger agreement, Stephen Day and other certain directors and a member of Dover's management team, who currently own approximately 25% of Dover's outstanding shares, have already agreed to vote their shares in favor of the merger, the investigation concerns whether the offer is unfair to NASDAQ:DOVR stockholders. More specifically, the investigation concerns whether the Dover Saddlery 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.
Dover Saddlery, Inc. reported that its annual Total Revenue rose from $81.34 million in 2011 to $101.82 million in 2014. Shares of Dover Saddlery, Inc. (NASDAQ:DOVR) grew to as high as $5.75 per share in early 2014.
On April 20, 2015, NASDAQ:DOVR shares closed at $8.42 per share.
Those who are current investors in Dover Saddlery, Inc. (NASDAQ:DOVR) 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