San Diego, CA -- (SBWIRE) -- 05/02/2012 -- The proposed takeover of P.F. Chang's China Bistro by Centerbridge Partners, L.P. is under investigation for investors in NASDAQ:PFCB shares concerning whether the offer to acquire P.F. Chang's China Bistro at $51.50 per share and the takeover process are unfair to investors NASDAQ:PFCB shares.
Investors who purchased shares of P.F. Chang's China Bistro (NASDAQ:PFCB) prior to May 1, 2012 and currently hold any of those NASDAQ:PFCB shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
On Tuesday, May 1, 2012, P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) announced that it has entered into a merger agreement with Centerbridge Partners, L.P. in a transaction valued at approximately $1.1 billion, which will result in P.F. Chang's becoming a private company. Under the terms of the proposed transaction, Centerbridge Partners will acquire all of the outstanding shares of P.F. Chang China Bistro's common stock for $51.50 per share in cash. P.F. Chang's China Bistro, Inc. said the $51.50offer represents a premium of approximately 30% over the average closing share price of P.F. Chang's common stock for the 30 days ended April 30, 2012.
The investigations by law firms concern whether certain officers and directors of P.F. Chang's China Bistro breached their fiduciary duties owed to PNASDAQ:PFCB investors in connection with the proposed acquisition given that fact that NASDAQ:PFCB shares traded in the end of 2010 as high as $52.86 per share, thus well above the current offer.
Those who are current investors in P.F. Chang's China Bistro (NASDAQ:PFCB) and purchased their P.F. Chang's China Bistro 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