An investigation on behalf of investors of Luxottica Group SpA (ADR) (NYSE:LUX) in connection with the proposed takeover was announced and Luxottica Group SpA (ADR) (NYSE:LUX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/25/2017 -- An investigation on behalf of investors, who currently hold shares of Luxottica Group SpA (ADR) (NYSE:LUX), was announced over the acquisition of Luxottica Group SpA.
Investors who purchased shares of Luxottica Group SpA (ADR) (NYSE:LUX) and currently hold any of those NYSE:LUX shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Luxottica Group SpA breached their fiduciary duties owed to NYSE:LUX investors in connection with the proposed acquisition.
On January 16, 2017, Essilor and Delfin announce the signing of an agreement designed to create an integrated player dedicated to visual health and superior consumer experience through a combination of Essilor and Luxottica Group SpA. Under the terms of the transaction, Luxottica shareholders will receive 0.461 Essilor shares for each share of Luxottica they own. Based on a closing pirce of $102.10 for Essilor shares on January 13, 2017, NYSE:LUX shareholders will receive a value of approximately $47.07 per share.
However, given that NYSE:LUX shares reached in the open market after the takeover announcement as high as $57.16 per share and reached in 2015 as high as $72.65 per share, the investigation concerns whether the offer is unfair to NYSE:LUX stockholders. More specifically, the investigation concerns whether the Luxottica Group 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 January 24, 2017, NYSE:LUX shares closed at $53.74 per share.
Those who are current investors in Luxottica Group SpA (ADR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego