An investigation on behalf of investors of Pope Resources, A Delaware Limited Partnership (NASDAQ: POPE) in connection with the proposed takeover was announced and NASDAQ: POPE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/13/2020 -- An investigation was announced concerning whether the takeover of Pope Resources, A Delaware Limited Partnership is unfair to NASDAQ: POPE stockholders.
Investors who purchased shares of Pope Resources, A Delaware Limited Partnership (NASDAQ: POPE) and currently hold any of those NASDAQ: POPE shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Pope Resources, A Delaware Limited Partnership breached their fiduciary duties owed to NASDAQ: POPE investors in connection with the proposed acquisition.
Poulsbo, WA based Pope Resources, A Delaware Limited Partnership manages timber resources in the United States. On January 15, 2020, Rayonier Inc. (NYSE:RYN) and Pope Resources, A Delaware Limited Partnership (NASDAQ:POPE) announced that they have entered into a merger agreement under which Rayonier will acquire all of the outstanding limited partnership units of Pope Resources for consideration consisting of equity and cash. Under the terms of the agreement, Pope Resources unitholders will have the right to elect to receive (i) 3.929 common shares of Rayonier, (ii) 3.929 units of Rayonier Operating Partnership LP, or (iii) $125 in cash in exchange for each unit of Pope Resources, subject to a proration mechanism as described below. Based on Rayonier's 10-day volume-weighted average price, the transaction values Pope Resources' limited partnership equity at $554 million, or $126.91 per unit (assuming 70% of the Pope Resources units are exchanged for equity consideration and 30% are exchanged for cash consideration).
However, the investigation concerns whether the offer is unfair to NASDAQ: POPE stockholders. More specifically, the investigation concerns whether the Pope Resources, A Delaware Limited 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 Pope Resources, A Delaware Limited Partnership (NASDAQ: POPE) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.