An investigation for investors in NASDAQ:TFM shares was announced concerning whether the takeover of The Fresh Market Inc. for $28.50 per share is unfair.
Investors who purchased shares of The Fresh Market Inc (NASDAQ:TFM) and currently hold any of those NASDAQ:TFM 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 The Fresh Market Inc breached their fiduciary duties owed to NASDAQ:TFM investors in connection with the proposed acquisition.
On March 14, 2016, The Fresh Market Inc (NASDAQ:TFM) and an affiliate of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) announced that they have entered into a definitive agreement whereby certain funds managed by Apollo will acquire The Fresh Market Inc (NASDAQ:TFM) for approximately $1.36 billion. The transaction will be implemented through a cash tender offer at $28.50 per share.
However, given that at least one analyst has set the high target price for NASDAQ:TFM shares at $44.00 per share and given that NASDAQ:TFM shares traded in 2015 as high as $41.47 per share, the investigation concerns whether the offer is unfair to NASDAQ:TFM stockholders. More specifically, the investigation concerns whether the Fresh Market 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 March 29, 2016, NASDAQ:TFM shares closed at $28.59 per share.
Those who are current investors in NASDAQ:TFM 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