An investigation on behalf of investors of Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 06/11/2019 -- An investigation was announced concerning whether the takeover of Sears Hometown and Outlet Stores, Inc. is unfair to NASDAQ: SHOS stockholders.
Investors who purchased shares of Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) and currently hold any of those NASDAQ: SHOS shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Sears Hometown and Outlet Stores, Inc. breached their fiduciary duties owed to NASDAQ: SHOS investors in connection with the proposed acquisition.
On June 3, 2019, Transform Holdco LLC, a leading integrated retailer and home to Sears and Kmart, and Sears Hometown and Outlet Stores, Inc. ("Sears Hometown") (NASDAQ: SHOS) announced that they have entered into a merger agreement whereby Transform Holdco LLC will acquire the outstanding shares of Sears Hometown not owned by ESL Investments, Inc. and its affiliates for a price of $2.25 per share in cash, subject to an upward adjustment in the event a sale of Sears Hometown's Outlet Segment has occurred that satisfies criteria specified in the merger agreement. ESL Investments, Inc. and its affiliates, the majority owners of Transform, presently hold 58% of the outstanding shares of Sears Hometown.
However, given that NASDAQ: SHOS shares traded in the open market as recently as September 2018 as high as $3.35 per share, the investigation concerns whether the offer is unfair to NASDAQ: SHOS stockholders. More specifically, the investigation concerns whether the Sears Hometown and Outlet Stores 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.
On June 10, 2019, shares of Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) closed at $2.42 per share.
Those who are current investors in Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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