An investigation on behalf of investors of Monogram Residential Trust Inc (NYSE:MORE) in connection with the proposed takeover was announced and NYSE:MORE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/12/2017 -- An investigation was announced for investors, who currently hold shares of Monogram Residential Trust Inc (NYSE:MORE), concerning whether the takeover of Monogram Residential Trust Inc for $12.00 per share is unfair.
Investors who purchased shares of Monogram Residential Trust Inc (NYSE:MORE) and currently hold any of those Monogram Residential Trust Inc (NYSE:MORE 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 Monogram Residential Trust Inc (NYSE:MORE breached their fiduciary duties owed to Monogram Residential Trust Inc (NYSE:MORE investors in connection with the proposed acquisition.
On July 4, 2017, Monogram Residential Trust, Inc. (NYSE: MORE) announced that it has entered into a merger agreement to be acquired by a newly formed perpetual life fund, Greystar Growth and Income Fund, LP, led by Greystar Real Estate Partners and its initial founding capital partners, affiliates of APG Asset Management N.V., GIC, and Ivanhoé Cambridge, in a transaction valued at approximately $3.0 billion, including debt to be assumed or refinanced. Under the terms of the merger agreement, Monogram's stockholders will receive $12.00 per share in cash.
However, given that at least one analyst has set the high target price fro NYSE:MORE shares at $12.50 per share, the investigation concerns whether the offer is unfair to Monogram Residential Trust Inc (NYSE:MORE stockholders. More specifically, the investigation concerns whether the Monogram Residential Trust Inc (NYSE:MORE 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 Monogram Residential Trust Inc (NYSE:MORE) closed on July 11, 2017, at $11.89 per share.
Those who are current investors in Monogram Residential Trust Inc (NYSE:MORE) 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