A lawsuit was filed for investors in shares of Bob Evans Farms Inc (NASDAQ:BOBE) in connection with the proposed takeover and NASDAQ:BOBE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/16/2018 -- An investor, who currently holds shares of Bob Evans Farms Inc (NASDAQ:BOBE), filed a lawsuit in effort to gain access to books and records from Bob Evans Farms Inc. over the takeover of Bob Evans Farms Inc by Post Holdings, Inc for $77.00 per share.
Investors who purchased shares of Bob Evans Farms Inc (NASDAQ:BOBE) and currently hold any of those NASDAQ:BOBE shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff seeks to get access to books and records looking to investigate the proposed $1.5 billion sale.
On September 19, 2017, Post Holdings, Inc. (NYSE:POST) and Bob Evans Farms, Inc. (NASDAQ:BOBE) announced that they have entered into an agreement in which Post Holdings, Inc will acquire Bob Evans for $77.00 per share.
However, plaintiff claims that the financial projections for the business lines "were evidently being adjusted" throughout the sale process to make the acquisition more attractive to Post Holdings Inc.
At least one analyst has set the high price target for shares at $85 per share and NASDAQ:BOBE shares reached after the takeover announcement in the open market on September 19, 2017 as high as $78.09 per share.
Bob Evans Farms Inc reported that its Total Revenue rose from $387.62 million for the 53 weeks period that ended on April 29, 2016 to $394.84 million for the 52 weeks period that ended on April 28, 2017 and that its Net Income for those respective time periods increased from $16.21 million to $17.04 million.
Those who are current investors in Bob Evans Farms Inc (NASDAQ:BOBE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego