An investigation on behalf of investors of Nationstar Mortgage Holdings Inc (NYSE:NSM) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 02/21/2018 -- An investigation was announced for investors, who currently hold NYSE:NSM shares, concerning whether the takeover of Nationstar Mortgage Holdings Inc. by WMIH Corp for $18.00 per share is unfair to NYSE:NSM stockholders.
Investors who purchased shares of Nationstar Mortgage Holdings Inc (NYSE:NSM) and currently hold any of those NYSE:NSM 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 directors of Nationstar Mortgage Holdings Inc breached their fiduciary duties owed to NYSE:NSM investors in connection with the proposed acquisition.
On February 13, 2018, WMIH Corp. (NASDAQ: WMIH) and Nationstar Mortgage Holdings Inc. (NYSE: NSM) announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Nationstar shareholders may elect to receive $18.00 in cash or 12.7793 shares of WMIH common stock for each share of Nationstar common stock they own, subject to an overall proration to ensure that 32% of the total outstanding Nationstar shares are exchanged for the stock consideration.
However, given that at least one analyst has set the high price target for NYSE:NSM shares at $23.00 per share, the investigation concerns whether the offer is unfair to NYSE:NSM stockholders. In addition, given that an entity owned by investment funds managed by an affiliate of Fortress Investment Group LLC, holding approximately 68% of Nationstar's voting shares, has contractually already agreed to support the transaction and elect cash consideration for approximately 34 million shares, subject to proration, the investigation concerns whether the Nationstar Mortgage Holdings 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 February 20, 2018, NYSE:NSM shares closed at $16.85 per share.
Those who are current investors in Nationstar Mortgage Holdings Inc (NYSE:NSM) 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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