BUYOUT OF WARNACO - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
October 31, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Warnaco Group. PVH Corp. (PVH) and The Warnaco Group, Inc. (WRC) today announced that they have entered into a definitive merger agreement pursuant to which PVH will acquire Warnaco and holders of Warnaco common stock will receive $51.75 in cash and .1822 of a share of PVH common stock for each share of Warnaco 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
The investigation concerns whether the board of directors of Warnaco are breaching their fiduciary duties to shareholders by not engaging in a full and fair auction for the company that would have allowed shareholders to obtain a higher price, while not allowing management of Warnaco to obtain personal benefits by entering into this deal at this price.
If you are a shareholder of Warnaco and would like additional information please contact us toll free at 877-772-3975 or email at contact @ tripplevy.
Tripp Levy PLLC is a national law firm that has recovered millions of dollars for shareholders across the globe.