An investigation on behalf of investors of Quality Care Properties, Inc. (NYSE: QCP) in connection with the proposed takeover was announced and NYSE: QCP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/20/2018 -- The takeover of Quality Care Properties, Inc. is under investigation concerning whether the takeover of Quality Care Properties, Inc. by ProMedica Health System, Inc is unfair.
Investors who purchased shares of Quality Care Properties, Inc. (NYSE: QCP) and currently hold any of those NYSE: QCP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Quality Care Properties, Inc. breached their fiduciary duties owed to NYSE: QCP investors in connection with the proposed acquisition.
On April 25, 2018, Quality Care Properties, Inc. (NYSE: QCP) announced that it has entered into an agreement with ProMedica Health System, Inc. ("ProMedica"), under which ProMedica will assume the rights and obligations of Quality Care Properties, Inc. (NYSE: QCP) pursuant to the original plan sponsor agreement between Quality Care Properties, Inc. (NYSE: QCP) and HCR ManorCare Inc. ("HCR ManorCare") entered into on March 2, 2018. As a result, ProMedica will acquire HCR ManorCare at the completion of HCR ManorCare's Chapter 11 bankruptcy process. Separately, Quality Care Properties, Inc. (NYSE: QCP) entered into an agreement to be acquired by Welltower Inc. (NYSE: WELL) for $20.75 per share in an all-cash transaction that would close concurrently with the closing of the Quality Care Properties, Inc. (NYSE: QCP) and ProMedica transaction.
However, given that after the takeover announcement NYSE: QCP shares rose in the open market to as high as $22.56 per share in June 2018, the investigation concerns whether the offer is unfair to NYSE: QCP stockholders. More specifically, the investigation concerns whether the Quality Care Properties 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.
On July 19, 2018, NYSE QCP shares closed at $20.52 per share.
Those who are current investors in Quality Care Properties, Inc. (NYSE: QCP) 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