An investigation on behalf of investors of Education Realty Trust, Inc. (“EdR”; NYSE: EDR) in connection with the proposed takeover was announced and NYSE: EDR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/02/2018 -- An investigation was announced for investors, who currently hold shares of Education Realty Trust, Inc. (NYSE: EDR), concerning whether the takeover of Education Realty Trust, Inc. ("EdR") is unfair to NYSE: EDR stockholders.
Investors who purchased shares of Education Realty Trust, Inc. (NYSE: EDR) and currently hold any of those NYSE: EDR 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 directors of Education Realty Trust, Inc. breached their fiduciary duties owed to NYSE: EDR investors in connection with the proposed acquisition.
Memphis, TN based EdR (NYSE: EDR) is one of America's largest owners, developers and managers of collegiate housing. On June 25, 2018, EdR (NYSE:EDR) announced that it has entered into a merger agreement to be acquired by a newly-formed, perpetual-life fund, Greystar Student Housing Growth and Income Fund, LP ("GEdR"), an affiliate of Greystar Real Estate Partners, in an all-cash transaction valued at approximately $4.6 billion, including debt to be assumed or refinanced. Under the terms of the merger agreement, EdR's stockholders will receive $41.50 per share in cash.
However, given that at least one analyst has set the high target price for NYSE: EDR shares at $42.00 per share, the investigation concerns whether the offer is unfair to NYSE: EDR stockholders. More specifically, the investigation concerns whether the Education Realty Trust 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.
Education Realty Trust, Inc. reported that its annual Total Revenue rose from $288.64 million in 2016 to $331 million in 2017.
Those who are current investors in Education Realty Trust, Inc. (NYSE: EDR) 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