An investigation on behalf of investors of Bats Global Markets Inc (BATS:BATS) in connection with the proposed takeover was announced and BATS:BATS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/07/2016 -- An investigation was announced for investors, who currently hold shares of Bats Global Markets Inc, concerning the buyout of Bats Global Markets Inc by CBOE Holdings, Inc.
Investors who purchased shares of Bats Global Markets Inc (BATS:BATS) and currently hold any of those BATS:BATS 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 Bats Global Markets Inc breached their fiduciary duties owed to BATS:BATS investors in connection with the proposed acquisition.
On September 26, 2016, CBOE Holdings, Inc. (NASDAQ: CBOE) and Bats Global Markets Inc (BATS:BATS) announced that they have entered into an agreement, which has been approved by the Board of Directors of each company by unanimous votes of the members of the boards present, under which CBOE Holdings has agreed to acquire Bats Global Markets Inc (BATS:BATS) in a cash and stock transaction valued at approximately $32.50 per Bats share, or a total of approximately $3.2 billion, consisting of 31% cash and 69% CBOE Holdings stock, based on CBOE Holdings' closing stock price of $70.30 per share on September 23, 2016.
However, given that shares of Bats Global Markets Inc (BATS:BATS) reached in the open market prior to the takeover announcement as high as $33.28 per share on September 23, 2016, the investigation concerns whether the offer is unfair to BATS:BATS stockholders. More specifically, the investigation concerns whether the Bats Global Markets 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 October 6, 2016, BATS:BATS shares closed at $30.83 per share.
Those who are current investors in Bats Global Markets Inc 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