Shareholders Foundation, Inc.

Investigation for Investors over Takeover AEP Industries (NASDAQ:AEPI) Announced

An investigation on behalf of investors of AEP Industries (NASDAQ:AEPI) in connection with the proposed takeover was announced and NASDAQ:AEP stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 08/30/2016 -- An investigation on behalf of investors, who currently hold shares of AEP Industries (NASDAQ:AEP), was announced concerning whether the takeover of AEP Industries by Berry Plastics Group, Inc for $110 per share is unfair to NASDAQ:AEPI stockholders.

Investors who purchased shares of AEP Industries (NASDAQ:AEPI) and currently hold any of those NASDAQ:AEPI 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 AEP Industries breached their fiduciary duties owed to NASDAQ:AEPI investors in connection with the proposed acquisition.

On August 25, 2016, Berry Plastics Group, Inc. (NYSE:BERY) and AEP Industries (NASDAQ:AEPI) have entered into a merger agreement under which Berry Plastics Group, Inc. will acquire all of the outstanding shares of AEP Industries (NASDAQ:AEPI) in a cash and stock transaction. Aggregate consideration will be $765 million, including AEP's net debt. Each AEP Industries (NASDAQ:AEPI) shareholder will elect to receive either $110 in cash or 2.5011 shares of Berry common stock per AEP share in the transaction, subject to an overall 50/50 proration to ensure that 50% of the total outstanding AEP shares are exchanged for the cash consideration.

However, given that Certain of AEP's executive officers and directors, who in aggregate, beneficially own 21.5 percent of AEP's common stock outstanding, have agreed to vote in favor of the proposed transaction, the investigation concerns whether the offer is unfair to NASDAQ:AEPI stockholders. More specifically, the investigation concerns whether the AEP Industries 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 AEP Industries (NASDAQ:AEPI) closed on August 29, 2016, at $110.63 per share.

Those who are current investors in AEP Industries 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