Investors who purchased shares of Caribou Coffee Company, Inc. (NASDAQ:CBOU)
The investigation by a law firm concerns whether certain officers and directors of Caribou Coffee Company, Inc. breached their fiduciary duties owed NASDAQ:CBOU investors in connection with the proposed acquisition.
On Dec. 17, 2012, Caribou Coffee Company, Inc. (NASDAQ: CBOU) and the Joh. A. Benckiser Group (JAB) announced a merger agreement under which an affiliate of Joh. A. Benckiser Group will acquire Caribou Coffee Company for $16.00 per share in cash, or a total of approximately $340 million. Caribou Coffee Company said that the $16.00offer represents a premium of approximately 30 percent over Caribou’s closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction.
However, at least one analyst has set the high target price for NASDAQ:CBOU shares at $20.00 per share and NASDAQ:CBOU shares traded as recently as March 30, 2012 as high as $18.64 per share, thus both well above the current offer.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to Caribou Coffee Company, Inc. (NASDAQ:CBOU stockholders.
Furthermore, Coffee Company’s financial performance improved over recent years. In fact, Caribou Coffee Company, Inc. (NASDAQ:CBOU)
Thus, the investigation focuses on whether the Caribou Coffee Company 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 Caribou Coffee Company, Inc. (NASDAQ:CBOU)