NEW YORK, Dec. 23, 2013 /PRNewswire/ -- Tripp Levy
PLLC, a leading securities and shareholder rights law firm that
represents shareholders throughout the nation, is investigating the
acquisition of Arden Group, Inc. on behalf of its shareholders.
Arden Group, Inc. (ARDNA) ("Arden Group" or the "Company"), parent
of Gelson's Markets, announced today that it has entered into a
definitive agreement to be acquired by TPG, the global private
investment firm, in an all cash transaction valued at approximately
$394 million. Under the terms of the
agreement, Arden Group's shareholders will receive $126.50 per share in cash. Shareholders of
Arden who own 56% of its stock
said they will vote in favor of this deal.
The investigation concerns whether the board of directors of
Arden breached their fiduciary
duties by not engaging in a full and fair process to insure that
shareholders received the maximum value for their shares, while
not, at the same time, seeking personal benefits for their own
self-interests. Indeed, the stock of Arden traded well above the buyout price
recently ($136.99 per share).
If you are a shareholder of Arden Group and would like
additional information regarding this matter, at no cost or
expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC is a leading securities and shareholder rights
law firm that has extensive experience in mergers and takeovers,
and has assisted in the recovery of millions of dollars for
shareholders around the globe. Attorney advertising.
Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC