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29.06.2017 17:45
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WEISSLAW LLP: First Potomac Realty Trust Acquisition May Not Be in the Best Interests of FPO Shareholders
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PR Newswire
NEW YORK, June 29, 2017
NEW YORK, June 29, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of First Potomac Realty Trust ("FPO" or the "Company") (NYSE: FPO) in connection with the proposed acquisition of the Company by Government Properties Income Trust ("Government Properties") (NASDAQ: GOV). Under the terms of the acquisition agreement, the Company's shareholders will receive $11.15 in cash for each FPO share they own.
WeissLaw is investigating whether FPO's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the per-share offer price is nearly $1.00 less the analyst target price of $12.00, offers a meager 9.3% premium over FPO's 30-day average share price, and is $0.20 less than its June 27 closing price.
Moreover, Government Properties stands to gain significant benefits from this transaction. According to David Blackman, Government Properties's President and CEO, the deal will help "expand [Government Properties's] business strategy to include the acquisition, ownership and private-sector tenants in the metropolitan Washington, D.C., market area."
Given these facts, WeissLaw is investigating whether FPO's Board acted in the best interests of FPO's public shareholders to maximize shareholder value prior to entering into the agreement. If you own FPO shares 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/first-potomac-realty-trust/
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-first-potomac-realty-trust-acquisition-may-not-be-in-the-best-interests-of-fpo-shareholders-300481999.html
SOURCE WeissLaw LLP
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