An investor in NYSE:CEB shares filed a lawsuit against the acquisition of CEB Inc. by Gartner, Inc.
On January 5, 2017, Gartner, Inc. and CEB Inc. announced that they have entered into an agreement whereby Gartner will acquire all of the outstanding shares of CEB Inc. (NYSE:CEB) in a cash and stock transaction valued at approximately $2.6 billion.
Investors who purchased shares of CEB Inc. (NYSE:CEB) and currently hold any of those NYSE:CEB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CEB stockholders by agreeing to sell CEB Inc. too cheaply via an unfair process to Gartner, Inc.
Under the terms of the agreement, CEB Inc. (NYSE:CEB) shareholders will receive $54.00 in cash and 0.2284 shares of Gartner common stock for each share of CEB Inc. (NYSE:CEB) common stock they own, or a value of approximately $77.25 per share.
However, plaintiff claims that the proposed consideration NYSE:CEB shareholders will receive is grossly inadequate and undervalues CEB Inc. Indeed, shares traded as high as $89.98 per share in 2015. CEB Inc. reported that its annual Total Revenue rose from $908.97 million in 2014 to $928.43 million in 2015 and that its Net Income increased from $51.17 million in 2014 to $92.53 million in 2015. In addition, the plaintiff alleges that the process is also unfair NYSE:CEB stockholders.
On March 10, 2017, NYSE:CEB shares closed at $78.50 per share.
Those who are current investors in NYSE:CEB 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