(WBC) Merger Voting Alert: Johnson Fistel Investigates Proposed Sale of WABCO Holdings Inc.; Is the Deal in the Best Interest of Shareholders?
28 May, 2019, 12:06 ET
SAN DIEGO, May 28, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of WABCO Holdings Inc. (NYSE: WBC) ("WABCO") breached their fiduciary duties in connection with the proposed sale of the Company to ZF Friedrichshafen AG ("ZF").
On March 28, 2019, WABCO announced that it had signed a definitive merger agreement with ZF. Under the terms of the agreement, all WABCO shareholders will receive $136.50 in cash per share.
The investigation concerns whether the WABCO board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for WABCO shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth, also one Wall Street analyst has a $173.00 price target on the stock. The 52-week high for WABCO was $146.68
A shareholder vote has been set for June 27, 2019, if you are a shareholder of WABCO and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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