San Diego, CA -- (SBWIRE) -- 04/24/2019 -- An investigation was announced concerning whether the takeover of Smart & Final Stores, Inc. is unfair to NYSE: SFS stockholders.
Investors who purchased shares of Smart & Final Stores, Inc. (NYSE: SFS) and currently hold any of those NYSE: SFS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Smart & Final Stores, Inc. breached their fiduciary duties owed to NYSE: SFS investors in connection with the proposed acquisition.
Commerce, CA based Smart & Final Stores, Inc. operates as a food retailer in the United States. It operates in two segments, Smart & Final and Smart Foodservice. On April 16, 2019, Smart & Final Stores, Inc. (NYSE: SFS) announced that it has entered into a merger agreement with certain investment funds managed ("Apollo Funds") by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO), pursuant to which the Apollo Funds will acquire all the outstanding shares of Smart & Final's common stock for $6.50 per share in cash.
However, given that at least one analyst has set the high target price for NYSE: SFS shares at $8.00 per share, the investigation concerns whether the offer is unfair to NYSE: SFS stockholders. More specifically, the investigation concerns whether the Smart & Final Stores 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.
Smart & Final Stores, Inc. reported that its annual Total Revenue rose from over $4.57 billion in 2017 to over $4.74 billion in 2018 and that its Net Loss declined from $138.91 million in 2017 to $112.15 million in 2018.
Those who are current investors in Smart & Final Stores, Inc. (NYSE: SFS) shares have certain options and should contact the Shareholders Foundation.
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