Press release from PR Newswire
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Saks, Inc. - SKS
Monday, July 29, 2013
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Saks, Inc. - SKS16:48 EDT Monday, July 29, 2013
NEW YORK, July 29, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Saks, Inc. ("Saks" or the "Company") (NYSE: SKS) (ISIN: US79377W1080) (CUSIP: 79377W108) concerning the proposed acquisition of Saks by Hudson's Bay, Inc. in a transaction valued at $2.9 billion, including debt.
The investigation concerns whether the Saks directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Saks shareholders will be entitled to receive $16.00 per share in cash for each share of Saks common stock. However, the price to EBITDA and Revenue multiples are below the average of comparable transactions; and at least one analyst has set a target price of $18.50 per share for Saks common stock.
Saks shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc., Dole Food Company, Inc., and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:Robert WilloughbyPomerantz Grossman Hufford Dahlstrom & Gross LLP212-661-1100 ext. email@example.com
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP