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Investigation announced for Investors in shares of Builders FirstSource, Inc. (NASDAQ: BLDR)

09-25-2020 12:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Builders FirstSource, Inc. (NASDAQ: BLDR) in connection with the proposed takeover.

An investigation on behalf of investors of Builders FirstSource, Inc. (NASDAQ: BLDR) in connection with the proposed takeover.

An investigation was announced concerning whether the takeover of Builders FirstSource, Inc. is unfair to NASDAQ: BLDR stockholders.

Investors who purchased shares of Builders FirstSource, Inc. (NASDAQ: BLDR) and currently hold any of those NASDAQ: BLDR 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 Builders FirstSource, Inc. breached their fiduciary duties owed to NASDAQ: BLDR investors in connection with the proposed acquisition.

Dallas based Builders FirstSource, Inc. manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States.

On August 27, 2020, Builders FirstSource, Inc. (Nasdaq: BLDR) and BMC Stock Holdings, Inc. (NASDAQ: BMCH) announced that they have entered into a merger agreement under which Builders FirstSource and BMC will combine in an all-stock merger transaction to create the nation’s premier supplier of building materials and services. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, BMC shareholders will receive a fixed exchange ratio of 1.3125 shares of Builders FirstSource common stock for each share of BMC common stock. Based on a closing price of $32.22 per NASDAQ: BMCH shares investors in Builders FirstSource, Inc. (NASDAQ: BLDR) will receive a value of approximately $30.91 per NASDAQ: BLDR shares.

However, given that at least one analyst has set the high target price of NASDAQ: BLDR at $37.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: BLDR stockholders. More specifically, the investigation concerns whether the Builders FirstSource 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.

Those who are current investors in Builders FirstSource, Inc. (NASDAQ: BLDR) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
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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