Kendall Law Group Investigates Whether Strategic Hotels & Resorts, Inc. Obtained a Fair Price in Sale to Blackstone Real Esta...
September 10 2015 - 11:03AM
Business Wire
Kendall Law Group, led by former federal Judge Joe Kendall, is
investigating Strategic Hotels & Resorts, Inc. (NYSE: BEE) and
its Board of Directors on behalf of shareholders in connection with
the proposed acquisition by Blackstone Real Estate Partners VIII
L.P. Pursuant to the terms of the agreement, Strategic shareholders
will receive $14.25 in cash for each Strategic share they own. The
offer price is only a 4.8% premium to the Company’s September 4,
2015, closing price of $13.60 and below the 52-week high of $14.41.
At least one Wall Street analyst set a price target of $15.19 per
share.
The national securities firm’s investigation seeks to determine
whether Strategic and its Board breached their fiduciary duties by
failing to fulfill its fiduciary duties, failing to maximize the
value of the Company, failing to disclose all material benefits and
costs, and failing to obtain the best possible consideration for
Strategic shareholders.
If you currently own shares of Strategic and want to know more
about your rights, you are encouraged to contact Jamie McKey at the
Kendall Law Group at 877-744-3728 or by email at
jmckey@kendalllawgroup.com to learn more about your rights as a
shareholder. There is no cost or obligation to you. Kendall Law
Group was founded by a former federal judge, includes a former
United States Attorney, prosecutors and securities lawyers who are
experienced in nationwide complex securities litigation. The firm
has been counsel in numerous merger and acquisition cases
nationwide, including some of the largest transactions in the
United States.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150910006177/en/
Kendall Law Group LLPJamie McKey, 214-744-3000877-744-3728 Toll
Free214-744-3015
Facsimilejmckey@kendalllawgroup.comwww.kendalllawgroup.com