NEW YORK, July 1, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Gramercy Property Trust Inc. ("Gramercy Property" or the "Company") (NYSE: GPT) for potential breaches of fiduciary duties in connection with the sale of the Company to Chambers Street Properties for approximately $5.7 billion in a stock transaction. The Company's stockholders will only receive 3.19 shares of Chambers Street for each share of Company common stock they own. The transaction values New York-based Gramercy Property at $25.36 per share.
However, the median target price set by market analysts is of $32.00 per share. Further the stock has traded historically at higher prices and even low target prices, of $29.50 per share, are above the current offer.
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The investigation focuses on whether Gramercy Property's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Gramercy Property's shareholders.
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If you own common stock in Gramercy Property and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/GPT or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Contact: Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Juan E. Monteverde, Esq. email@example.com Toll Free: (877) 247-4292 Phone: (212) 983-9330
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