NEW YORK, June 1, 2016 /PRNewswire/ -- On May 1, 2016, a private equity firm, Platinum Equity announced that it is acquiring Electro Rent Corporation (NASDAQ: ELRC) for $13.12 per share. According to Carl Stine, who is a partner at Wolf Popper LLP, "Clearly, Platinum Equity is taking advantage on the fact that Electro Rent's Chairman plans to retire in July 2016 and wants to sell now, even if it's a bad price." The offer price is below at least one analyst's price target of $15.00 per share.
Wolf Popper is investigating claims on behalf of investors in Electro Rent concerning the transaction. Electro Rent's shareholders seeking more information about the transaction or Wolf Popper's investigation can contact Mr. Stine at (212) 759-4600 or firstname.lastname@example.org.