An investigation for investors in NASDAQ:GK shares was announced concerning whether the takeover of G&K Services Inc. by Cintas Corporation for $97.50 per share is unfair to NASDAQ:GK stockholders.
Investors who purchased shares of G&K Services Inc (NASDAQ:GK) and currently hold any of those NASDAQ:GK 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 G&K Services directors breached their fiduciary duties owed to NASDAQ:GK investors in connection with the proposed acquisition.
On August 16, 2016, G&K Services, Inc. (NASDAQ:GK) announced that its Board of Directors has approved an agreement pursuant to which Cintas Corporation will acquire G&K Services in a transaction valued at approximately $2.2 billion, including G&K’s outstanding indebtedness. G&K Services Inc (NASDAQ:GK) shareholders will receive $97.50 per share in cash for each outstanding share of common stock held.
However, given that at least one analyst has set the high target price for NASDAQ:GK shares at $98.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:GK stockholders. More specifically, the investigation concerns whether the G&K Services 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 G&K Services Inc (NASDAQ:GK) closed on September 1, 2016, at $97.24 per share.
Those who are current investors in NASDAQ:GK 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