An investigation on behalf of investors of AV Homes, Inc. (NASDAQ: AVHI) in connection with the proposed takeover was announced and NASDAQ: AVHI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/12/2018 -- An investigation on behalf of investors, who currently hold shares of AV Homes, Inc. (NASDAQ: AVHI), was announced concerning whether the takeover of AV Homes, Inc. by Taylor Morrison Home Corporation is unfair to NASDAQ: AVHI stockholders.
Investors who purchased shares of AV Homes, Inc. (NASDAQ: AVHI) and currently hold any of those NASDAQ: AVHI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of AV Homes, Inc. breached their fiduciary duties owed to NASDAQ: AVHI investors in connection with the proposed acquisition.
On June 7, 2018, Taylor Morrison Home Corporation (NYSE: TMHC) and AV Homes, Inc. (NASDAQ: AVHI), a developer and builder of residential communities in Florida, the Carolinas, Arizona and Texas, today announced that they have entered into a definitive agreement pursuant to which Taylor Morrison will acquire all of the outstanding shares of AV Homes common stock at $21.50 per share in a cash and stock transaction valued (including outstanding AV Homes debt) at approximately $963 million.
However, given that TPG Capital, the holder of approximately 40% of AV Homes common stock, has already agreed to vote all of its shares of AV Homes common stock in favor of the transaction, the investigation concerns whether the offer is unfair to NASDAQ: AVHI stockholders. More specifically, the investigation concerns whether the AV Homes 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 AV Homes, Inc. (NASDAQ: AVHI) closed on June 11, 2018 at $21.50 per share.
Those who are current investors in AV Homes, Inc. (NASDAQ: AVHI) 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