San Diego, CA -- (SBWire) -- 10/20/2015 --An investigation for shareholders in shares of The Phoenix Companies, Inc. (NYSE:PNX), was announced concerning whether the takeover of The Phoenix Companies, Inc. by Nassau Reinsurance Group Holdings L.P. is unfair.
Investors who purchased shares of The Phoenix Companies, Inc. (NYSE:PNX) and currently hold any of those NYSE:PNX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of The Phoenix Companies, Inc. breached their fiduciary duties owed to NYSE:PNX shareholders in connection with the proposed acquisition.
On September 29, 2015, Nassau Reinsurance Group Holdings L.P. and The Phoenix Companies, Inc.(NYSE:PNX) announced that they have entered into a definitive agreement in which Nassau will acquire Phoenix for $37.50 per share in cash, or aggregate equity purchase price of $217.2 million.
However, given that NYSE:PNX shares traded as high as $69.94 per share in late December 2014, the investigation concerns whether the offer is unfair to NYSE:PNX stockholders. More specifically, the investigation concerns whether the Phoenix Companies 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.
The Phoenix Companies, Inc. (NYSE:PNX) closed on October 19, 2015, at $33.26 per share.
Those who are current investors in NYSE:PNX shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
The Phoenix Companies, Inc. (NYSE:PNX) Shareholder Notice: Takeover Under Investigation over Potential Wrongdoing
An investigation for shareholders of The Phoenix Companies, Inc. (NYSE:PNX) in connection with the proposed takeover was announced and NYSE:PNX stockholders should contact the Shareholders Foundation.