An investigation fo investors of Homeinns Hotel Group (ADR) (NASDAQ:HMIN) was announced concerning the takeover of Homeinns Hotel Group.
Investors who purchased shares of Homeinns Hotel Group (ADR) (NASDAQ:HMIN) and currently hold any of those NASDAQ:HMIN 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 Homeinns Hotel Group breached their fiduciary duties owed to NASDAQ:HMIN investors in connection with the proposed acquisition.
On December 7, 2015, Homeinns Hotel Group (ADR) (NASDAQ:HMIN) announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with BTG Hotels Group (HONGKONG) Holdings Co., Limited (“Holdco”), a wholly owned subsidiary of BTG Hotels (Group) Co., Ltd., a PRC joint stock company that is listed on the Shanghai Stock Exchange and principally engaged in the management of hotels and tourism destinations (SHA: 600258) (“BTG Hotels”), BTG Hotels Group (CAYMAN) Holding Co., Ltd (“Merger Sub”), a wholly owned subsidiary of Holdco, and solely for the purposes of certain sections of the Merger Agreement, BTG Hotels. Pursuant to the Merger Agreement, Holdco will acquire Homeinns Hotel Group (other than Rollover Shares as defined below) for cash consideration of US$17.90 in cash per ordinary share of the Company (each, a “Share”) or US$35.80 in cash per American depositary share of the Homeinns Hotel Group (ADR) (NASDAQ:HMIN) (each, an “ADS”), each of which represents two Shares.
However, given that at least one analyst has set the high target price for NASDAQ:HMIN shares at $39.79 per share, the investigation concerns whether the offer is unfair to NASDAQ:HMIN stockholders. More specifically, the investigation concerns whether the Homeinns Hotel Group 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. Homeinns Hotel Group (ADR) (NASDAQ:HMIN) reached as high as $43.69 per share in late 2013.
On January 12, 2016, NASDAQ:HMIN shares closed at $33.81 per share.
Those who are current investors in Homeinns Hotel Group (ADR) (NASDAQ:HMIN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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