A lawsuit was filed for investors in shares of VCA Inc (NASDAQ:WOOF) in connection with the proposed takeover and NASDAQ:WOOF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/03/2017 -- An investor, who currently holds NASDAQ:WOOF shares filed a lawsuit against the proposed takeover of VCA Inc. by Mars, Incorporated for $93 per share.
Investors who purchased shares of VCA Inc (NASDAQ:WOOF) and currently hold any of those NASDAQ:WOOF shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WOOF stockholders by agreeing to sell VCA Inc. too cheaply via an unfair process to Mars, Incorporated.
On January 9, 2017, Mars, Incorporated and VCA Inc (NASDAQ:WOOF) announced that they have entered an agreement under which Mars will acquire all of the outstanding shares of VCA Inc (NASDAQ:WOOF) for $93 per share, or a total value of approximately $9.1 billion including $1.4 billion in outstanding debt.
However, plaintiff claims that the proposed consideration NASDAQ:WOOF shareholders will receive is grossly inadequate and undervalues VCA Inc. VCA Inc reported that its annual Total Revenue rose from over $1.91 billion in 2014 to over $2.13 billion in 2015 and that its Net Income increased from $135.44 million in 2014 to $211.05 million in 2015. In addition, the plaintiff alleges that the process is also unfair NASDAQ:WOOF stockholders.
Shares of VCA Inc (NASDAQ:WOOF) closed on March 2, 2017 at $90.88 per share.
Those who are current investors in VCA Inc 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