NEW YORK, April 15, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Weingarten Realty Investors ("Weingarten" or the "Company") (NYSE: WRI) in connection with the proposed cash-and-stock acquisition of the Company by Kimco Realty Corporation ("Kimco") (NYSE: KIM). Under the terms of the merger agreement, each Weingarten common share will be converted into 1.408 newly issued shares of Kimco common stock plus $2.89 in cash, representing per-share merger consideration of approximately $30.32 based upon Kimco's April 14, 2021 closing price of $19.48. Upon consummation of the deal, Kimco shareholders will own approximately 71% of the newly-combined company, leaving only 29% of the new company controlled by former Weingarten shareholders.
If you own Weingarten shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw LLP is investigating whether (i) Weingarten's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Weingarten's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]