The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Excel Trust Inc (NYSE:EXL), is ongoing concerning whether the takeover of Excel Trust Inc by Blackstone Property Partners for $15.85 per share is unfair to NYSE:EXL stockholders.
Investors who purchased shares of Excel Trust Inc (NYSE:EXL) and currently hold any of those NYSE:EXL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Excel Trust breached their fiduciary duties owed to NYSE:EXL investors in connection with the proposed acquisition.
On April 10, 2015, Excel Trust Inc (NYSE:EXL) announced that it has entered into an agreement with Blackstone Property Partners L.P., under which Blackstone will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at approximately $2 billion.
However, given that at least one analyst has set the high target price for NYSE:EXL shares at $16.00 per share, the investigation concerns whether the offer is unfair to NYSE:EXL stockholders. More specifically, the investigation concerns whether the Excel Trust 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 April 20, 2015, NYSE:EXL shares closed at $15.85 per share.
Those who are current investors in Excel Trust Inc (NYSE:EXL) 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