An investigation for investors in Heartland Payment Systems, Inc. (NYSE:HPY) was announced concerning the takeover of Heartland Payment Systems, Inc. by Global Payments Inc.
Investors who purchased shares of Heartland Payment Systems, Inc. (NYSE:HPY) and currently hold any of those NYSE:HPY 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 Heartland Payment Systems, Inc. breached their fiduciary duties owed to NYSE:HPY investors in connection with the proposed acquisition.
On December 15, 2015, Global Payments Inc. (NYSE: GPN) announced that it has entered into an agreement to acquire Heartland Payment Systems, Inc. (NYSE:HPY. Under the terms of the agreement Global Payments will acquire Heartland Payment Systems, Inc. (NYSE:HPY) in a cash-and-stock transaction for $100.00 per share, representing a transaction value of approximately $4.3 billion. Consideration for the transaction will consist of 0.6687 shares of Global Payments stock and $53.28 for each share of Heartland Payment Systems, Inc. (NYSE:HPY) stock at closing, subject to the terms of the merger agreement.
However, the investigation concerns whether the offer is unfair to NYSE:HPY stockholders. More specifically, the investigation concerns whether the Heartland Payment Systems 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.
Shares of Heartland Payment Systems, Inc. (NYSE:HPY) closed on January 8, 2016, at $92.16 per share.
Those who are current investors in Heartland Payment Systems, Inc. (NYSE:HPY) 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