An investor in NYSE:CST shares filed a lawsuit in effort to halt the proposed takeover of CST Brands Inc. by Couche-Tard Inc for $48.53 per share.
Investors who purchased shares of CST Brands Inc (NYSE:CST) and currently hold any of those NYSE:CST shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CST stockholders by agreeing to sell CST Brands Inc. too cheaply via an unfair process to Couche-Tard Inc.
On August 22, 2016, Couche-Tard Inc. (TSX: ATD.A ATD.B), (“Couche-Tard”) announces a merger agreement with CST Brands Inc (NYSE:CST) under which Couche-Tard would acquire CST Brands Inc (NYSE:CST) in an all-cash transaction for US $48.53 per share, with a total enterprise value of approximately US $4.4 billion including net debt assumed.
However, plaintiff claims that the proposed consideration NYSE:CST shareholders will receive is grossly inadequate and undervalues CST Brands Inc. In addition, the plaintiff alleges that the process is also unfair to CST Brands Inc stockholder.
Shares of CST Brands Inc (NYSE:CST) closed on October 7, 2016, at $47.97 per share.
Those who are current investors in NYSE:CST shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Leave Your Comments