An investigation on behalf of investors of Duff & Phelps Corp (NYSE:DUF) in connection with the proposed takeover was announced and NYSE:DUF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/07/2013 -- An investigation on behalf of investors in Duff & Phelps Corp (NYSE:DUF) shares was announced concerning whether the offer by a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group to acquire Duff & Phelps Corp for $15.55 per NYSE:DUF share and the takeover process are unfair to investors in NYSE:DUF shares.
Investors who purchased shares of Duff & Phelps Corp (NYSE:DUF) prior to December 30, 2012, and currently hold any of those NYSE:DUF shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Duff & Phelps Corp breached their fiduciary duties owed NYSE:DUF investors in connection with the proposed acquisition.
On Dec. 30, 2012, Duff & Phelps Corporation (NYSE: DUF) announced that it has entered into a merger agreement under which a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group will acquire Duff & Phelps Corporation for $15.55 per share in cash in a transaction valued at approximately $665.5 million.
However, at least one analyst has set the high target price for NYSE:DUF shares at $24.00 per share and NYSE:DUF shares traded as recently as April 2012 as high as $15.98 per share, thus well above the current offer. Furthermore, Duff & Phelps’ financial performance improved over the past recent years. In fact, it reported that its annual revenue rose from $375.03 million in 2010 to $396.87 million in 2011 and its Net Income over the respective time periods increased from $16.77 million to $18.61 million.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:DUF stockholders.
Specifically, given that certain stockholders beneficially owning an aggregate of approximately 10% of the outstanding shares of the Company have already agreed to vote their shares in favor of the transaction, the investigation focuses on whether the Duff & Phelps 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.
Those who are current investors in Duff & Phelps Corp (NYSE:DUF), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego