1. Latest News
  2. Submit Press Release

Warnaco Group Inc (NYSE:WRC) Investor Alert: Investigation of Takeover Offer by PVH Corp.

An investigation on behalf of investors of Warnaco Group Inc (NYSE:WRC) in connection with the proposed takeover was announced and NYSE:WRC stockholders should contact the Shareholders Foundation.

 
 
mail@shareholdersfoundation.com
PRLog - Dec. 3, 2012 - SAN DIEGO -- An investigation on behalf of investors in Warnaco Group Inc (NYSE:WRC) shares was announced concerning whether the offer by PVH Corp.to acquire Warnaco Group Inc  for a value of approximately $64.83 per NYSE:WRC share and the takeover process are unfair to investors in NYSE:WRC shares.

Investors who purchased shares of the Warnaco Group Inc (NYSE:WRC) prior to October 31, 2012, and currently hold any of those NYSE:WRC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Warnaco Group Inc breached their fiduciary duties owed to NYSE:WRC investors in connection with the proposed acquisition.

On Oct. 31, 2012, PVH Corp. (NYSE: PVH) and The Warnaco Group, Inc. (NYSE: WRC) announced that they have entered into a merger agreement pursuant to which PVH will acquire The Warnaco Group, Inc and holders of The Warnaco Group, Inc common stock will receive $51.75 in cash and .1822 of a share of PVH common stock for each share of Warnaco Group, Inc common stock. Based on PVH’s last closing stock price, the per share value of the consideration to be received by Warnaco stockholders is $68.43 per share.
However, Warnaco Group’s financial performance improved over the past years. For instance, its Total Revenue rose from over $2.06 billion for the 12 months period that ended on Jan. 3, 2009 to over $2.51 billion for the 12 months period that ended on Dec. 31, 2011 and its Net Income increased over the respective time periods from $51.05 million to $132.25 million. Furthermore, shares of Warnaco Group Inc (NYSE:WRC) grew at an exceptional growth rate. In fact NYSE:WRC shares grew from as low as $17.31 per share in March 2009 to as high as $64.36 per share in April 2011.

Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:WRC stockholders.

Specifically, the investigation focuses on whether the Warnaco Group Board of Directors undertakes an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Warnaco Group Inc (NYSE:WRC) and purchased their Warnaco Group Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

--- End ---

Click to Share

Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
Location:San Diego - California - United States
Industry:Banking, Business
Tags:Warnaco Group Inc, NYSE:WRC, takeover, buyout, merger
Shortcut:prlog.org/12035030
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



Like PRLog?
9K2K1K
Click to Share