NEW YORK, May 12, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Pinnacle Foods Inc. (NYSE: PF). The Hillshire Brands Company and Pinnacle Foods announced that they have entered into a definitive agreement under which Hillshire Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction. Under the terms of the agreement, each share of Pinnacle Foods common stock will be exchanged for $18.00 in cash and 0.50 shares of Hillshire Brands common stock, resulting in an implied purchase price of $36.02 per share.
The investigation concerns whether the board of directors of Pinnacle Foods engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the merger consideration is unfairly low and whether the senior management and board of directors of Pinnacle Foods obtained personal benefits for themselves that were not shared with other shareholders.
If you are a shareholder of Pinnacle Foods and would like additional information as to how the acquisition may affect your rights as a shareholder, please call us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC