Energy News / Shareholders Foundation, Inc.

NASDAQ:SNAK Shareholder Alert: Investigation of Acquisition of Inventure Foods Inc

Via: ReleaseWire

Updated 11:00 AM CDT, Tue, October 31,2017

An investigation on behalf of investors of Inventure Foods Inc (NASDAQ:SNAK) in connection with the proposed takeover was announced and NASDAQ:SNAK stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 10/31/2017 -- The acquisition of Inventure Foods Inc is under investigation over possible wrongdoing. The investigation was announced for investors in NASDAQ:SNAK shares concerning whether the takeover of Inventure Foods Inc. by Utz Quality Foods, LLC is unfair.

Investors who purchased shares of Inventure Foods Inc (NASDAQ:SNAK) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain officers and directors of Inventure Foods Inc breached their fiduciary duties owed to NASDAQ:SNAK investors in connection with the proposed acquisition.

On October 26, 2017, Inventure Foods Inc (NASDAQ:SNAK) and Utz Quality Foods, LLC announced they entered into a merger agreement pursuant to which Utz Quality Foods, LLC has agreed to acquire all of the Company's outstanding shares of common stock in an all-cash transaction. Under the terms of the merger agreement, an indirect subsidiary of Utz Quality Foods, LLC will commence a tender offer to acquire all of the outstanding shares of the Company's common stock at a price of $4.00 per share in cash, for a total purchase price of approximately $165 million, including the assumption of approximately $75 million of debt and debt-like items, net of cash, approximately $8 million of the Company's estimated closing costs and approximately $3 million due to equity award holders.

However, given that at least one analyst has set the high price target of NASDAQ:SNAK shares at $10.00 per share and given that NASDAQ:SNAK shares traded as early as October 11, 2107 in the open market as high as $5.32 per share, the investigation concerns whether the offer is unfair to NASDAQ:SNAK stockholders. More specifically, the investigation concerns whether the Inventure Foods 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.

Those who are current investors in Inventure Foods Inc (NASDAQ:SNAK) 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

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqsnak-shareholder-alert-investigation-of-acquisition-of-inventure-foods-inc-884790.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com