An investigation for investors in NYSE:EVDY shares was announced concerning whether the takeover of Everyday Health Inc. by Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc. for $10.50 per share is unfair.
Investors who purchased shares of Everyday Health Inc (NYSE:EVDY) and currently hold any of those NYSE:EVDY 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 directors of Everyday Health Inc breached their fiduciary duties owed to NYSE:EVDY investors in connection with the proposed acquisition.
On October 21, 2016, Everyday Health Inc announced that it has entered into a merger agreement with Ziff Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc. (NASDAQGS: JCOM). Under the terms of the agreement, Ziff Davis will acquire Everyday Health Inc (NYSE:EVDY) for $10.50 per share in cash, representing an approximate enterprise value of $465 million.
However, given that at least one analyst has set the high target price for NYSE:EVDY shares at $17.00 per share, the investigation concerns whether the offer is unfair to NYSE:EVDY stockholders. More specifically, the investigation concerns whether the Everyday Health 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.
On November 1, 2016, NYSE:EVDY shares closed at $10.45 per share.
Those who are current investors in NYSE:EVDY shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego