NEW YORK, Sept. 25, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Bob Evans Farms Inc.
(NASDAQ: BOBE) ("BOBE" or the "Company") in connection with the
proposed acquisition of the Company by Post Holdings Inc. ("POST")
(NYSE: POST). Under the terms of the agreement, the Company's
shareholders will receive $77.00 in
cash for each BOBE share they own.
WeissLaw is investigating whether BOBE's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $78.00 per share.
Additionally, BOBE recently announced impressive financial
results for the first quarter of fiscal year 2018. It
reported a remarkable 27.1% annual increase in net sales from
$85.9 million to $109.3 million. BOBE also reported
double-digit growth in various other sectors, including a 38.3%
annual increase in adjusted EBITDA from $14.1 million in the first quarter of fiscal year
2017 to $19.5 million in the same
period of the following year, and an incredible 60.9% increase in
non-GAAP net income from $0.23 per
diluted share in 2017 to $0.37 per
diluted share.
Finally, according the acquisition announcement, this "highly
complementary combination will significantly strengthen POST's
portfolio of brands, [] and increase [its] presence in higher
growth categories of the packaged food market."
Given these facts, WeissLaw is investigating whether BOBE's
Board acted in the best interests of its public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own BOBE shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/bob-evans-farms-inc/
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SOURCE WeissLaw LLP