An investigation on behalf of investors of Home Properties, Inc. (NYSE:HME) in connection with the proposed takeover was announced and NYSE:HME stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/13/2015 -- An investigation on behalf of investors, who currently hold shares of Home Properties, Inc. (NYSE:HME), was announced concerning whether the takeover of Home Properties, Inc. by an affiliate of Lone Star Funds for $75.23 per share is unfair to NYSE:HME stockholders.
Investors who purchased shares of Home Properties, Inc. (NYSE:HME) and currently hold any of those NYSE:HME shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Home Properties, Inc. breached their fiduciary duties owed to NYSE:HME investors in connection with the proposed acquisition.
On June 22, 2015, Home Properties, Inc. (NYSE:HME) announced that it has entered into an agreement to be acquired by an affiliate of Lone Star Funds, in a transaction valued at approximately $7.6 billion, including the assumption of existing debt. Under the terms of the Merger Agreement, Lone Star Funds will acquire all of the outstanding common stock of Home Properties for $75.23 per share in an all-cash transaction.
However, given that at least one analyst has set the high target price for NYSE:HME shares at $79.00 per share and given that NYSE:HME shares traded as recently as April 28, 2015, as high as $75.41 per share in the open market, the investigation concerns whether the offer is unfair to NYSE:HME stockholders. More specifically, the investigation concerns whether the Home Properties 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.
On July 10, 2015, NYSE:HME shares closed at $73.09 per share.
Those who are current investors in Home Properties, Inc. (NYSE:HME) 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