Press release from Business Wire
Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Saks Incorporated Shareholders
Wednesday, July 31, 2013
Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Saks Incorporated Shareholders11:05 EDT Wednesday, July 31, 2013
NEW YORK (Business Wire) -- Kirby McInerney LLP is investigating potential claims against the Board of Directors of Saks Incorporated (“Saks” or the “Company”) (NYSE:SKS) related to the proposed acquisition of the Company by Hudson's Bay Company (“HBC”). Under the terms of the transaction, Saks shareholders will receive $16.00 cash per share, valuing the Company at approximately $2.9 billion.
The investigation concerns whether the Saks Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $16.00 per share consideration adequately values Saks' common shares. At least one analyst has set a price target of $18.50 per share for the value of Saks' common stock.
If you are a Saks shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.
Kirby McInerney LLP
J. Brandon Walker, Esq., 212-699-1145 or 888-529-4787