An investigation on behalf of investors of Regal Entertainment Group (NYSE:RGC) in connection with the proposed takeover was announced and NYSE:RGC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2017 -- An investigation was announced for investors in shares of Regal Entertainment Group (NYSE:RGC) concerning whether the acquisition of Regal Entertainment Group. by Cineworld Group PLC is unfair.
Investors who purchased shares of Regal Entertainment Group (NYSE:RGC) should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Regal Entertainment Group breached their fiduciary duties owed to NYSE:RGC investors in connection with the proposed acquisition.
On December 5, 2017, Regal Entertainment Group (NYSE:RGC) announced that it has entered into a merger agreement with Cineworld Group PLC for Cineworld Group PLC to acquire Regal Entertainment Group (NYSE:RGC). Under the terms of the Agreement, Regal Entertainment Group (NYSE:RGC) stockholders are to receive $23.00 in cash for each share of Class A and Class B common stock, for a total transaction value of $5.9 billion, including the assumption of debt and net of cash acquired.
However, given that at least one analyst has set the high price target for NYSE:RGC shares at $24.75 per share, the investigation concerns whether the offer is unfair to NYSE:RGC stockholders. In addition, given that Global City Holdings B.V. ("GCH") and the trustee of trusts of which Cineworld's Chairman, Anthony Bloom, is a potential discretionary beneficiary, collectively owning approximately 28.8% of Cineworld's ordinary shares, have already signed irrevocable undertakings to vote in favor of the transaction and rights offering, the investigation concerns whether the Regal Entertainment Group 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.
Shares of Regal Entertainment Group (NYSE:RGC) closed on December 15, 2017, at $22.80 per share.
Those who are current investors in Regal Entertainment Group (NYSE:RGC) 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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