An investigation on behalf of investors of Press Ganey Holdings Inc (NYSE:PGND) in connection with the proposed takeover was announced and NYSE:PGND stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/18/2016 -- An investigation on behalf of investors, who currently hold shares of Press Ganey Holdings Inc (NYSE:PGND), was announced concerning whether the buyout of Press Ganey Holdings Inc by EQT Equity fund EQT VII for $40.50 per share is unfair. On August 9, 2016, Press Ganey Holdings Inc (NYSE:PGND) announced that it has entered into an agreement to be acquired by EQT Equity fund EQT VII ("EQT"), part of the global private equity group EQT.
Investors who purchased shares of Press Ganey Holdings Inc (NYSE:PGND) and currently hold any of those NYSE:PGND 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 Press Ganey Holdings Inc breached their fiduciary duties owed to NYSE:PGND investors in connection with the proposed acquisition.
Under the terms of the agreement, EQT will acquire all of Press Ganey Holdings Inc's (NYSE:PGND) common stock. Shareholders of record will receive $40.50 in cash per share of Press Ganey Holdings Inc (NYSE:PGND) common stock, resulting in an enterprise value of approximately $2.35 billion.
However, given that at least one analyst has set the high target price fro NYSE:PGND shares at $45.00 per share, the investigation concerns whether the offer is unfair to NYSE:PGND stockholders. More specifically, the investigation concerns whether the Press Ganey Holdings 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 17, 2016, NYSE:PGND shares closed at $40.45 per share.
Those who are current investors in Press Ganey Holdings Inc shares 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