An investigation on behalf of investors, who currently hold shares of Silver Bay Realty Trust Corp (NYSE:SBY), was announced concerning whether the takeover of Silver Bay Realty Trust Corp. by Tricon Capital Group Inc for $21.50 per share is unfair to NYSE:SBY stockholders.
Investors who purchased shares of Silver Bay Realty Trust Corp (NYSE:SBY) and currently hold any of those NYSE:SBY shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain directors of Silver Bay Realty Trust Corp breached their fiduciary duties owed to NYSE:SBY investors in connection with the proposed acquisition.
On February 27, 2017 Silver Bay Realty Trust Corp (NYSE:SBY) announced that its Board of Directors has approved and Silver Bay Realty Trust Corp has entered into an agreement pursuant to which Tricon Capital Group Inc. will acquire Silver Bay Realty Trust Corp (NYSE:SBY) in a transaction valued at approximately $1.4 billion. Under the terms of the agreement Silver Bay’s stockholders will receive $21.50 per share in cash for each outstanding share of common stock held immediately prior to the closing of the transaction.
However, given that at least one analyst has set the high target price for NYSE:SBY shares at $22.00 per share, the investigation concerns whether the offer is unfair to NYSE:SBY stockholders. More specifically, the investigation concerns whether the Silver Bay Realty 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 March 22, 2017, NYSE:SBY shares closed at $21.59 per share.
Those who are current investors in NYSE:SBY shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]
The post NYSE:SBY Investor Alert: Investigation over Buyout of Silver Bay Realty Trust Corp appeared first on GroundReport.
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