A lawsuit was filed for investors in shares of Buffalo Wild Wings (NASDAQ:BWLD) in connection with the proposed takeover and NASDAQ:BWLD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/17/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Buffalo Wild Wings (NASDAQ:BWLD), filed a lawsuit against the proposed takeover of Buffalo Wild Wings by Arby's Restaurant Group, Inc for $157.00 per share.
Investors who purchased shares of Buffalo Wild Wings (NASDAQ:BWLD) and currently hold any of those NASDAQ:BWLD shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:BWLD stockholders by agreeing to sell Buffalo Wild Wings cheaply via an unfair process to Arby's Restaurant Group, Inc
On November 28, 2017, Arby's Restaurant Group, Inc. and Buffalo Wild Wings (NASDAQ:BWLD) announced that the companies have entered into a merger agreement under which Arby's Restaurant Group, Inc will acquire Buffalo Wild Wings (NASDAQ:BWLD) for $157 per share in cash, in a transaction valued at approximately $2.9 billion, including BWW's net debt.
However, plaintiff claims that the proposed consideration NASDAQ: BWLD shareholders will receive is grossly inadequate and undervalues Buffalo Wild Wings. Indeed, at least one analyst has set the high target price for NASDAQ: BWLD shares at $160 per share and NASDAQ: BWLD shares reached as high as $174.90 per share in December 2016.
In addition, the plaintiff alleges that the process is also unfair NASDAQ: BWLD stockholders. Indeed, certain funds advised by Marcato Capital Management, LP, which own approximately 6.4% of the outstanding shares of BWW, have already entered into an agreement to vote in favor of the transaction.
Those who are current investors in Buffalo Wild Wings (NASDAQ:BWLD) 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