An investigation on behalf of investors of Gramercy Property Trust (NYSE: GPT) in connection with the proposed takeover was announced and NYSE: GPT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/15/2018 -- An investigation was announced for investors in shares of Gramercy Property Trust (NYSE: GPT), over whether the takeover of Gramercy Property Trust by Blackstone Real Estate Partners VIII is unfair.
Investors who purchased shares of Gramercy Property Trust (NYSE: GPT) and currently hold any of those NYSE: GPT 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 Gramercy Property Trust breached their fiduciary duties owed to NYSE: GPT investors in connection with the proposed acquisition.
New York based Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. On May 7, 2018, Gramercy Property Trust (NYSE: GPT) announced that it has entered into an agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone Real Estate Partners VIII will acquire all outstanding common shares of Gramercy Property Trust for $27.50 per share in an all-cash transaction valued at $7.6 billion.
However, given that at least one analyst has set the high target price for NYSE:GPT shares at $33.00 per share and given that NYSE:GPT shares reached in the open market as high as $31.26 per share in October 2017, the investigation concerns whether the offer is unfair to Gramercy Property Trust (NYSE: GPT stockholders. More specifically, the investigation concerns whether the Gramercy Property Trust (NYSE: GPT 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.
Gramercy Property Trust reported that its annual Total Revenue rose from $522.26 million in 2016 to $556.35 million in 2017 and that its Net Income increased from $33.35 million in 2016 to $85.26 million in 2017.
On May 14, 2018, NYSE: GPT shares closed at $27.53 per share.
Those who are current investors in Gramercy Property Trust (NYSE: GPT) 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