An investigation on behalf of investors of Knoll, Inc. (NYSE:KNL) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 05/13/2021 -- An investigation was announced concerning whether the takeover of Knoll, Inc. is unfair to NYSE: KNL stockholders.
Investors who purchased shares of Knoll, Inc. (NYSE: KNL) 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 Knoll, Inc. breached their fiduciary duties owed to NYSEL KNL investors in connection with the proposed acquisition.
East Greenville, PA based Knoll, Inc., together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally.
On April 19, 2021, Herman Miller, Inc. (NASDAQ: MLHR) and Knoll Inc. (NYSE: KNL) today announced that they have entered into a definitive agreement under which Herman Miller will acquire Knoll in a cash and stock transaction valued at $1.8 billion. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by the end of the third quarter of calendar year 2021, subject to the satisfaction of closing conditions.
Under the terms of the agreement, Knoll shareholders will receive $11.00 in cash and 0.32 shares of Herman Miller common stock for each share of Knoll common stock they own. Based on Herman Miller's five-day volume weighted average price of $43.94 per share, the transaction terms imply a purchase price of $25.06 per share.
However, the investigation concerns whether the offer is unfair to NYSEL KNL stockholders. More specifically, the investigation concerns whether the Knoll 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 Knoll, Inc. (NYSE: KNL) 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.