Press release
Investigation announced for Investors in Liberty Property Trust (NYSE: LPT) over possible Wrongdoing in Takeover
An investigation on behalf of investors of Liberty Property Trust (NYSE: LPT) in connection with the proposed takeover.
Investors who purchased shares of Liberty Property Trust (NYSE: LPT) and currently hold any of those NYSE: LPT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Liberty Property Trust breached their fiduciary duties owed to NYSE: LPT investors in connection with the proposed acquisition.
On October 27, 2019, Prologis, Inc. (NYSE: PLD) and Liberty Property Trust (NYSE: LPT) announced that the two companies have entered into a merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction. Under the terms of the agreement, Liberty shareholders will receive 0.675x of a Prologis share for each Liberty share they own. Based on a closing price of $90.86 per NYSE: PLD shares investors in Liberty Property Trust (NYSE: LPT) will receive a value of approximately $61.33 per NYSE: LPT share.
However, given that at least one analyst has set the high target price for NYSE: LPT shares at $62.00 per share, the investigation concerns whether the offer is unfair to (NYSE: LPT stockholders. More specifically, the investigation concerns whether the Liberty Property Trust 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 7, 2019, NYSE: LPT shares closed at $58.76 per share.
Those who are current investors in Liberty Property Trust (NYSE: LPT) shares have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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