An investor in NYSE:MWW shares filed a lawsuit in effort to halt the proposed takeover of Monster Worldwide, Inc. by Randstad Holding nv for $3.40 per share.
Investors who purchased shares of Monster Worldwide, Inc. (NYSE:MWW) and currently hold any of those NYSE:MWW 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:MWW stockholders by agreeing to sell Monster Worldwide, Inc. too cheaply via an unfair process to Randstad Holding nv.
On August 9, 2016, Randstad Holding nv (AMS: RAND) and Monster Worldwide, Inc. (NYSE:MWW) announced the signing of an agreement under which Randstad will acquire Monster. Under the terms of the merger agreement, Randstad will pay $3.40 per share in cash, or a total purchase price of approximately $429 million (enterprise value).
However, plaintiff claims that the proposed consideration NYSE:MWW shareholders will receive is grossly inadequate and undervalues Monster Worldwide, Inc. Indeed, at least one analyst has set the high target price for NYSE:MWW shares at $3.50 per share and given that NYSE:MWW shares traded in October 2015 as high as $7.65 per share. Furthermore, Monster Worldwide, Inc. reported that its annual Total Revenue declined from $725.57 million in 2014 to $666.90 million in 2015, however its Net loss of $289.29 million in 2014 turned into a Net Income of $73.61 million in 2015. . In addition, the plaintiff alleges that the process is also unfair to NYSE:MWW stockholder. The plaintiff alleges that the merger agreement contains preclusive deal protection devices, such as a no-solicitation and a $9 million termination provision that deter other bidders from making a superior offer for Monster Worldwide.
On September 30, 2016, NYSE:MWW shares closed at $3.61 per share.
Those who are current investors in NYSE:MWW 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
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