San Diego, CA -- (SBWIRE) -- 07/30/2012 -- The proposed takeover of Peet's Coffee & Tea, Inc. (NASDAQ:PEET) is likely to face lawsuits by unhappy investors in NASDAQ:PEET shares. Several investigations indicate that it is just a matter of time until the takeover will be challenged.
Investors who purchased shares of Peet's Coffee & Tea, Inc. (NASDAQ:PEET) prior to July 23, 2012, and currently hold any of those NASDAQ:PEET shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by several law firms concerns whether the offer to purchase Peet's Coffee & Tea, Inc. at $73.50 per NASDAQ:PEET is unfair to investors.
Last week, Peet's Coffee & Tea, Inc. and Joh. A. Benckiser announced that they have entered into an agreement under which Joh. A. Benckiser plans to acquire Peet's Coffee & Tea for $73.50 per NASDAQ: PEET share in cash, or a total of approximately $1 billion.
However, at least one analyst has set the high target price for NASDAQ: PEET shares at $95.00 per share, thus well above the current $73.50 per share. In addition NASDAQ: PEET shares traded as early as April 30, 2012 as high as $76.82 per share, thus also above the current offer.
Therefore the investigation for NASDAQ:PEET investors concerns whether the proposed transaction is unfair to Peet's Coffee & Tea, Inc. stockholders. Specifically, the investigation focuses on whether the Peet's Coffee & Tea 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.
Those who are current investors in Peet's Coffee & Tea, Inc. (NASDAQ:PEET) and purchased their Peet's Coffee & Tea, Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego