Wohl & Fruchter LLP is Investigating Reported Lack of “Go-Shop Period” In Connection With the Proposed Merger of Nash Finch Co. and Spartan Stores Inc.
The law firm of Wohl & Fruchter LLP is investigating the proposed merger
of Nash Finch Co. (Nash) (NASDAQ: NAFC) and Spartan Stores Inc.
(Spartan) (NASDAQ: SPTN).
On July 22, 2013, Nash and Spartan announced they had entered into an
agreement under which the two companies will combine in an all-stock
merger. Under the terms of the transaction, Nash shareholders will
receive a fixed ratio of 1.20 shares of Spartan stock for each share of
Nash stock they own. Upon closing, Spartan shareholders will own
approximately 57.7% of the combined company and Nash shareholders will
own approximately 42.3%.
According to media reports, the merger agreement does not allow for a
go-shop period, which would allow Nash to see if another company wants
to make a better offer.
Wohl & Fruchter’s investigation concerns the adequacy of the
consideration being paid to Nash shareholders, and whether the board of
directors of Nash breached their fiduciary duties to Nash shareholders
by failing to adequately shop the company.
Additional information is available at http://www.wohlfruchter.com/cases/nafc.
Persons with relevant information, and Nash shareholders with questions
about this investigation, are invited to contact our Firm by calling
866.833.6245, or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from
fraud and other fiduciary breaches by corporate managers, as well as
other complex litigation matters. Please visit our website, www.wohlfruchter.com,
to learn more about our Firm, or contact one of our partners.
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Copyright Business Wire 2013