A lawsuit was filed for investors in shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) in connection with the proposed takeover and NASDAQ:HAWK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/16/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK), filed a lawsuit in effort to halt the proposed takeover of Blackhawk Network Holdings Inc. for $45.25 per share.
Investors who purchased shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) and currently hold any of those NASDAQ:HAWK 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:HAWK stockholders by agreeing to sell Blackhawk Network Holdings Inc cheaply via an unfair process.
On January 16, 2018, Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) announced that Silver Lake and P2 Capital Partners have agreed to acquire Blackhawk Network Holdings Inc (NASDAQ:HAWK) in an all-cash transaction for a total consideration of approximately $3.5 billion, which includes Blackhawk's debt. Under the terms of the agreement, Blackhawk Network Holdings Inc (NASDAQ:HAWK) stockholders will receive $45.25 per share in cash upon closing of the transaction.
However, plaintiff claims that the proposed consideration NASDAQ:HAWK shareholders will receive is grossly inadequate and undervalues Blackhawk Network Holdings, Inc.. Indeed, at least one analyst has set the high target price for NASDAQ:HAWK shares at $51.00 per share. Blackhawk Network Holdings Inc reported that its annual Total Revenue rose from over $1.8 billion for the 52 weeks period that ended on January 2, 2016 to over $1.89 billion for the 52 weeks period that ended on December 31, 2016. In addition, the plaintiff alleges that the process is also unfair NASDAQ:HAWK stockholders.
Those who are current investors in Blackhawk Network Holdings Inc (NASDAQ:HAWK) 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