PRLog - Nov. 19, 2012 - SAN DIEGO -- An investigation on behalf of investors in Schiff Nutrition International Inc (NYSE:SHF) shares was announced concerning whether the offer to acquire Schiff Nutrition International Inc for $34 per NYSE:SHF share and the takeover process are unfair to investors in NYSE:SHF shares.
Investors who purchased shares of the Schiff Nutrition International Inc (NYSE:SHF) prior to October 26, 2012, and currently hold any of those NYSE:SHF shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Schiff Nutrition International Inc breached their fiduciary duties owed to NYSE:SHF investors in connection with the proposed acquisition.
On October 30, 2012, Bayer HealthCare LLC has signed a merger agreement to acquire Schiff Nutrition International, Inc. (NYSE: SHF). Under the terms of the agreement, Schiff Nutrition International shareholders will receive $34.00 per NYSE:SHF share held at the time of the transaction.
However, on October 29, 2012, two stockholders of the Company, who hold approximately 85.16% of the voting power of the shares outstanding entitled to vote, have already signed and delivered a written consent approving the adoption of the Merger Agreement. Furthermore, Schiff Nutrition’s financial performance improved recently. In fact, it reported that its Total Revenue rose from $190.69 million for the 12 months period that ended on May 31, 2009 to $258.91 million for the 12 months period that ended on May 31, 2012, and that its Net Income over the respective time periods increased from $10.33 million to $13.73 million.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:SHF stockholders. Specifically, the investigation focuses on whether the Schiff Nutrition 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.
Those who are current investors in Schiff Nutrition International Inc (NYSE:SHF), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.