SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of The Pantry, Inc. And Encourages Investors...
22 Dicembre 2014 - 11:32PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of The Pantry, Inc. (“The Pantry” or
the “Company”) (Nasdaq: PTRY) relating to the proposed buyout of
the Company by Alimentation Couche-Tard Inc. (“Couche-Tard”).
On December 18, 2014, The Pantry and Couche-Tard announced the
signing of a definitive merger agreement pursuant to which
Couche-Tard will acquire The Pantry in an all-cash transaction
valued at approximately US $1.7 billion including debt assumed.
Under the terms of the transaction, The Pantry shareholders are
expected to receive $36.75 in cash for each share of The Pantry
common stock they own. The transaction is expected to close in the
first half of 2015, though The Pantry shareholders will most likely
be asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of The Pantry and would like
to learn more about the investigation being conducted by Brower
Piven, without cost or obligation to you, please visit our website
at http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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