Top-News
Donnerstag,
15.09.2016 21:40
von
PR Newswire
| Aufrufe: 54
American Farmland Company Acquisition May Not Be in the Best Interests of AFCO Shareholders
Arm, Inc Hauptsitz im Silicon Valley; Arm Holdings ist ein globales Halbleiter- und Software-Design-Unternehmen, das sich im Besitz der japanischen SoftBank Group und ihres Vision Fund befindet.
©iStock
PR Newswire
NEW YORK, Sept. 15, 2016
NEW YORK, Sept. 15, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of American Farmland Company ("AFCO" or the "Company") in connection with the proposed acquisition of the Company by Farmland Partners, Inc. ("FPI"). On September 12, 2016, AFCO and FPI jointly announced that a definitive agreement for FPI to acquire all outstanding shares of AFCO in a stock-for stock transaction. Under the terms of the agreement, AFCO shareholders and operating partnership unitholders will receive 0.7417 of a newly issued FPI share for each AFCO share and unit they own.
WeissLaw is investigating whether AFCO's Board acted to maximize shareholder value prior to entering into the agreement. Notably, AFCO recently announced positive financial results. On August 15, 2016, the Company reported operating revenues of $3.1 million in the quarter ended June 30, 2016, compared to $2.8 million reported in the same period of the previous year. In addition, FPI announced it expected the transaction "to contribute approximately $16 million in revenue in 2016, increasing FPI's total revenue from $26 million to approximately $42 million." Finally, upon completion of the transaction, AFCO shareholders and unitholders will own a mere 35% of the newly combined company.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell AFCO and whether AFCO shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own AFCO shares or units and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-farmland-company-acquisition-may-not-be-in-the-best-interests-of-afco-shareholders-300329044.html
SOURCE WeissLaw LLP
Werbung
Mehr Nachrichten zur American Farmland Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)
-1
Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink.
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.
