An investigation on behalf of investors of Snyder’s-Lance Inc (NASDAQ:LNCE) in connection with the proposed takeover was announced and NASDAQ:LNCE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/02/2018 -- An investigation was announced for investors, who currently hold shares of Snyder's-Lance Inc (NASDAQ:LNCE), over the takeover of Snyder's-Lance Inc.
Investors in Snyder's-Lance Inc (NASDAQ:LNCE) should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Snyder's-Lance Inc breached their fiduciary duties owed to NASDAQ:LNCE investors in connection with the proposed acquisition.
On December 18, 2017, Campbell Soup Company (NYSE: CPB) and Snyder's-Lance (NASDAQ: LNCE) announced that the companies have entered into an agreement for Campbell to acquire Snyder's-Lance for $50.00 per share in an all-cash transaction.
However, given that certain members of the Warehime family, who collectively own 13.2 percent of Snyder's-Lance's outstanding common stock, have already agreed to vote their shares in support of the transaction, the investigation concerns whether the offer is unfair to NASDAQ:LNCE stockholders. More specifically, the investigation concerns whether the Snyder's-Lance 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.
Snyder's-Lance Inc reported that its Total Revenue rose from over $16.5 billion for the 12 months period that ended on January 2, 2016 to over $2.1 billion for the 12 months period that ended on December 31, 2016.
On December 29, 2017, NASDAQ:LNCE shares closed at $50.08 per share.
Those who are current investors in Snyder's-Lance Inc (NASDAQ:LNCE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego