An investigation on behalf of investors of Fidelity & Guaranty Life (NYSE:FGL) in connection with the proposed takeover was announced and NYSE:FGL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/01/2017 -- The takeover of Fidelity & Guaranty Life by Anbang Insurance Group Co is under investigation over possible wrongdoing. The investigation was announced for investors, who currently hold shares of Fidelity & Guaranty Life (NYSE:FGL), concerning whether the takeover of Fidelity & Guaranty Life by Anbang Insurance Group Co for $26.80 per share is unfair.
Investors who purchased shares of Fidelity & Guaranty Life (NYSE:FGL) and currently hold any of those NYSE:FGL 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 Fidelity & Guaranty Life breached their fiduciary duties owed to NYSE:FGL investors in connection with the proposed acquisition.
On May 24, 2017, CF Corporation (NASDAQ: CFCO) and Fidelity & Guaranty Life (NYSE:FGL) announced that their boards of directors have each unanimously approved a definitive merger agreement under which CF Corp. will acquire Fidelity & Guaranty Life (NYSE:FGL) for $31.10 per share in cash, or a total of approximately $1.835 billion, plus the assumption of $405 million of existing debt.
However, the investigation concerns whether the offer is unfair to NYSE:FGL stockholders. Moreover, the investigation concerns whether the Fidelity & Guaranty Life 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 Fidelity & Guaranty Life (NYSE:FGL) closed on May 31, 2017 at $30.85 per share.
Those who are current investors in Fidelity & Guaranty Life 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