An investigation on behalf of investors of Protective Life Corp. (NYSE:PL) in connection with the proposed takeover was announced and NYSE:PL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/09/2014 -- An investigation on behalf of investors, who currently hold shares of Protective Life Corp. (NYSE:PL) shares, was announced concerning whether the takeover of Protective Life Corp. by Dai-ichi Life Insurance Company is unfair to NYSE:PL stockholders.
Investors who purchased shares of Protective Life Corp. (NYSE:PL) and currently hold any of those NYSE:PL 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 officers and directors of Protective Life Corp. breached their fiduciary duties owed to NYSE:PL investors in connection with the proposed acquisition.
On June 3, 2014, Dai-ichi Life Insurance Company, Limited (TSE: 8750) and Protective Life Corporation (NYSE: PL) announced that they have entered into an agreement under which -ichi Life Insurance Company will acquire all outstanding shares of Protective Life Corporation for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion.
However, the investigation concerns whether the offer is unfair to NYSE:PL stockholders. More specifically, the investigation concerns whether the Protective Life 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.
Protective Life Corp’s financial performance improved lately. For instance, Protective Life Corp. reported that its annual Total Revenue rose from over $3.62 billion in 2012 to over $3.96 billion in 2013 and that its respective Net Income increased from $302.45 million to $393.46 million. Shares of Protective Life Corp. (NYSE:PL) grew from $15.17 per share in September 2011 to as high as $53.86 per share in March 2014.
On June 6, 2014, NYSE:PL shares closed at $69.46 per share
Those who are current investors in Protective Life Corp. (NYSE:PL) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego