An investigation was announced for investors in NASDAQ:FBRC shares over the takeover of FBR & Co. by B. Riley Financial, Inc.
On February 21, 2017, B. Riley Financial, Inc. announced that it has signed a stock for stock merger agreement to acquire FBR & Co (NASDAQ:FBRC).
Investors who purchased shares of FBR & Co (NASDAQ:FBRC) and currently hold any of those NASDAQ:FBRC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of FBR & Cobreached their fiduciary duties owed to NASDAQ:FBRC investors in connection with the proposed acquisition.
Under the terms of the agreement, FBR & Co shareholders are anticipated to receive 0.671 of a share of B. Riley and a pre-closing cash dividend of $8.50 for each share of FBR & Co (NASDAQ:FBRC) common stock they own, representing consideration of $18.90 based on B. Riley’s February 23, 2017 closing price.
However, the investigation concerns whether the offer is unfair to NASDAQ:FBRC stockholders. More specifically, the investigation concerns whether the FBR & Co Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of FBR & Co (NASDAQ:FBRC) closed on March 21, 2017, at $17.60 per share,
Those who purchased NASDAQ:FBRC shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego