An investigation on behalf of investors of Hilton Grand Vacations Inc. (NYSE:HGV) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 04/14/2021 -- An investigation was announced concerning whether the takeover of Hilton Grand Vacations Inc. is unfair to NYSE: HGV stockholders.
Investors who purchased shares of Hilton Grand Vacations Inc. (NYSE: HGV) and currently hold any of those NYSE: HGV shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Hilton Grand Vacations Inc. breached their fiduciary duties owed to NYSE: HGV investors in connection with the proposed acquisition.
Orlando,FL based Hilton Grand Vacations Inc., a timeshare company, develops, markets, sells, and manages vacation ownership resorts primarily under the Hilton Grand Vacations brand.
On March 10, 2021, Hilton Grand Vacations Inc. (NYSE:HGV) announced that it has entered into a definitive agreement to acquire Diamond Resorts International, Inc. from funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO), funds managed by affiliates of Reverence Capital Partners), and other Diamond Resorts International, Inc.stockholders, in a stock-based transaction with an equity value of approximately $1.4 billion. Under the terms of the agreement, the Apollo Funds and other Diamond Resorts International, Inc. stockholders will receive 34.5 million shares of Hilton Grand Vacations Inc. (NYSE: HGV) common stock, subject to customary adjustments.
However, given that at least one analyst has set the high target price for NYSE: HGV shares at $48.00 per share, the investigation concerns whether the offer is unfair to NYSE: HGV stockholders. More specifically, the investigation concerns whether the Hilton Grand Vacations Inc. 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 Hilton Grand Vacations Inc. (NYSE: HGV) closed on April 13, 2021, at $38.65 per share.
Those who are current investors in Hilton Grand Vacations Inc. (NYSE: HGV) shares have certain options and should contact the Shareholders Foundation.
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