Coca-Cola Enterprises Inc. Investor files lawsuit against proposed takeover

PRLog (Press Release) - Mar 02, 2010 -
An investor in Coca-Cola Enterprises Inc. (NYSE:CCE) filed a lawsuit on behalf of current investors of Coca-Cola Enterprises Inc. (Public, NYSE:CCE) alleging breaches of fiduciary duty with an alleged unfair takeover.

If you are a current investor in Coca-Cola Enterprises Inc. (NYSE:CCE), who purchased CCE stock before February 15, 2010, you have certain options and you should contact the Shareholders Foundation, Inc at:

mail@shareholdersfoundation.com  or at: +1 (858) 779 – 1554

An Coca-Cola Enterprises Inc. investor filed a lawsuit over alleged breaches of fiduciary duty of the Coca-Cola Enterprises Inc board of directors arising out of their attempt to sell Coca-Cola Enterprises Inc. to The Coca-Cola Company. On February 15, 2010, the Coca-Cola Company (NYSE: KO) and Coca-Cola Enterprises Inc. (NYSE: CCE) announce that they have entered into an agreement under which the Coca-Cola Company will acquire Coca-Cola Enterprises entire North American business, which consists of approximately 75 percent of U.S. bottler-delivered volume and almost 100 percent of Canadian bottler-delivered volume. Under the proposed deal Coca-Cola Enterprises' shareholders, excluding The Coca-Cola Company, will exchange each share for $10 in cash and a share of a new Coca-Cola Enterprises focused solely on Europe. The new company will retain the Company's name. The Company's North American operations accounted for over half of its operating income in 2009. The deal is expected to close in the fourth quarter of 2010.

According to the complaint the plaintiff alleges that the “transaction is unfair and directly injures CCE shareholders” as Coca-Cola Enterprises is selling itself too cheaply to its controlling shareholder, Coca-Cola Co., in a self-dealing stock swap that will leave CCE shareholders holding  a security that “is worth substantially less than the value of the securities that they are giving up”. The plaintiff accuses that the Coca-Cola Company has extensive control over Coca-Cola Enterprises, Inc’s operations and finances, as among other things the Coca-Cola Company is directly involved in the annual business planning process at Coca-Cola Enterprises, has direct knowledge and input into the estimated and planned sales volumes of Coca-Cola Enterprises, and has access to confidential business information of Coca-Cola Enterprises.

Coca-Cola Enterprises Inc, Atlanta, Geogria, is engaged in marketing, producing and distributing non-alcoholic beverages. The Company serves a market of approximately 421 million consumers throughout the United States, Canada, the United States Virgin Islands and certain other Caribbean islands, Belgium, continental France, Great Britain, Luxembourg, Monaco, and the Netherlands. It markets, produces, and distributes its products to customers and consumers through licensed territories in 46 states in the United States, the District of Columbia, the United States Virgin Islands and certain other Caribbean islands, and the 10 provinces of Canada (collectively referred to as North America). Coca-Cola Enterprises Inc. reported in 2007 Total Revenue of $20.936billion with a Net Income of $771million, in 2008 Total Revenue of $21.807billion, and in 2009 Total Revenue of $21.645billion with a Net Income of $731million. Shares of Coca-Cola Enterprises Inc. (NYSE:CCE) traded at $26 per share after the announcement, and at almost $20 per share days before the news. CCE shares, were down form $26.65 per share in 2008, and reached over $28 per share in 2004.  

Those who are a current investor in Coca-Cola Enterprises Inc. (NYSE:CCE), who purchased CCE stock before February 15, 2010, you have certain options and you should contact the Shareholders Foundation, Inc at:

mail@shareholdersfoundation.com  or at: +1 (858) 779 – 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Phone:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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