|By PR Newswire||
|December 23, 2013 02:59 PM EST||
NEW YORK, Dec. 23, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, is investigating the acquisition of Arden Group, Inc. on behalf of its shareholders. Arden Group, Inc. (ARDNA) ("Arden Group" or the "Company"), parent of Gelson's Markets, announced today that it has entered into a definitive agreement to be acquired by TPG, the global private investment firm, in an all cash transaction valued at approximately $394 million. Under the terms of the agreement, Arden Group's shareholders will receive $126.50 per share in cash. Shareholders of Arden who own 56% of its stock said they will vote in favor of this deal.
The investigation concerns whether the board of directors of Arden breached their fiduciary duties by not engaging in a full and fair process to insure that shareholders received the maximum value for their shares, while not, at the same time, seeking personal benefits for their own self-interests. Indeed, the stock of Arden traded well above the buyout price recently ($136.99 per share).
If you are a shareholder of Arden Group and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC