An investigation on behalf of investors of Outerwall Inc (NASDAQ:OUTR) in connection with the proposed takeover was announced and NASDAQ:OUTR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/04/2016 -- An investigation on behalf of investors, who currently hold shares of Outerwall Inc (NASDAQ:OUTR), was announced concerning whether the takeover of Outerwall Inc. for $52.00 per share is unfair to NASDAQ:OUTR stockholders.
Investors who purchased shares of Outerwall Inc (NASDAQ:OUTR) and currently hold any of those NASDAQ:OUTR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Outerwall Inc breached their fiduciary duties owed to NASDAQ:OUTR investors in connection with the proposed acquisition.
On July 25, 2016, Outerwall Inc (NASDAQ:OUTR) announced that it has entered into an Agreement and Plan of Merger with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC pursuant to which the Apollo Funds will acquire all of the outstanding shares of Outerwall Inc (NASDAQ:OUTR) common stock for $52.00 per share in cash.
However, the However, given that at least one analyst has set the high target price for NASDAQ:OUTR shares at $58.00 per share and gien that shares of Outerwall Inc reached as high as $83.89 per share in July 2015, the investigation concerns whether the offer is unfair to NASDAQ:OUTR stockholders. More specifically, the investigation concerns whether the Outerwall 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.
On August 3, 2016, NASDAQ:OUTR shares closed at $52.48 per share.
Those who purchased shares of Outerwall Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com