An investigation on behalf of investors of Neff Corp (NYSE:NEFF) in connection with the proposed takeover was announced and NYSE:NEFF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/08/2017 -- The takeover of Neff Corp is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Neff Corp (NYSE:NEFF), concerning whether the takeover of Neff Corp. by H&E Equipment Services, Inc. is unfair to NYSE:NEFF stockholders.
Investors who purchased shares of Neff Corp (NYSE:NEFF) and currently hold any of those NYSE:NEFF shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Neff Corp breached their fiduciary duties owed to NYSE:NEFF investors in connection with the proposed acquisition.
On July 14, 2017, H&E Equipment Services, Inc. (NASDAQ: HEES) and Neff Corp (NYSE:NEFF) announced that they have entered into a merger agreement under which H&E Equipment Services will acquire Neff Corporation. Under the terms of the agreement, which has been approved by the boards of directors of both companies, H&E Equipment Services, Inc. will pay $21.07 in cash per share of Neff Corp (NYSE:NEFF) common stock, for a total enterprise value of approximately $1.2 billion, including approximately $690 million of net debt.
However, the investigation concerns whether the offer is unfair to Neff Corp (NYSE:NEFF stockholders. More specifically, the investigation concerns whether the Neff Corp (NYSE:NEFF 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 August 7, 2017, shares of Neff Corp (NYSE:NEFF) closed at $21.10 per share.
Those who are current investors in Neff Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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