An investigation for shareholders in HomeAway, Inc. (NASDAQ:AWAY) in connection with the proposed takeover was announced and NASDAQ:AWAY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/08/2015 -- An investigation for shareholders in shares of HomeAway, Inc, was announced over the takeover of HomeAway, Inc. by Expedia, Inc for a value of approximately $38.31 per shares.
On November 4, 2015 Expedia, Inc and HomeAway, Inc. (NASDAQ:AWAY) announced today that they have entered into an agreement under which Expedia has agreed to acquire HomeAway, Inc. (NASDAQ:AWAY), including all of its brands, for an equity value of approximately $3.9 billion in cash and Expedia common stock, representing a per share price for HomeAway shares of $38.31, based on Expedia's closing price on November 3, 2015.
Investors who purchased shares of HomeAway, Inc. (NASDAQ:AWAY) and currently hold any of those NASDAQ:AWAY 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 officers and directors of HomeAway, Inc breached their fiduciary duties owed to NASDAQ:AWAY investors in connection with the proposed acquisition.
Under the terms of the transaction, Expedia will offer to acquire each outstanding share of common stock of HomeAway, Inc. (NASDAQ:AWAY) in exchange for $10.15 in cash and 0.2065 of a share of Expedia common stock.
However, given that at least one analyst has set the high target price for NASDAQ:AWAY shares at $43.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:AWAY stockholders. More specifically, the investigation concerns whether the HomeAway 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 December 4, 2015, NASDAQ:AWAY shares closed at $35.98 per share.
Those who are current investors in HomeAway, Inc. (NASDAQ:AWAY) 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