A lawsuit was filed for investors in shares of CEB Inc. (NYSE:CEB) in connection with the proposed takeover and NYSE:CEB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/13/2017 -- The Shareholders Foundation announces that an investor who currently holds shares of CEB Inc. (NYSE:CEB), filed a lawsuit in effort to halt the proposed takeover of CEB Inc. by Gartner, Inc for a value of approximately $77.25 per share.
Investors who purchased shares of CEB Inc. (NYSE:CEB) and currently hold any of those NYSE:CEB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CEB stockholders by agreeing to sell CEB Inc. too cheaply via an unfair process to Gartner, Inc.
On January 5, 2017, Gartner, Inc. (NYSE: IT) and CEB Inc. (NYSE:CEB) announced that they have entered into an agreement whereby Gartner will acquire all of the outstanding shares of CEB Inc. (NYSE:CEB) in a cash and stock transaction valued at approximately $2.6 billion. Under the terms of the agreement, CEB Inc. (NYSE:CEB) shareholders will receive $54.00 in cash and 0.2284 shares of Gartner common stock for each share of CEB Inc. (NYSE:CEB) common stock they own, or a value of approximately $77.25 per share.
However, plaintiff claims that the proposed consideration NYSE:CEB shareholders will receive is grossly inadequate and undervalues CEB Inc. Indeed, shares traded as high as $89.98 per share in 2015. CEB Inc. reported that its annual Total Revenue rose from $908.97 million in 2014 to $928.43 million in 2015 and that its Net Income increased from $51.17 million in 2014 to $92.53 million in 2015. In addition, the plaintiff alleges that the process is also unfair NYSE:CEB stockholders.
On March 10, 2017, NYSE:CEB shares closed at $78.50 per share.
Those who are current investors in CEB 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