WeissLaw LLP: Bob Evans Farms Inc. Acquisition May Not Be in the Best Interests of BOBE Shareholders

NEW YORK, Sept. 25, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Bob Evans Farms Inc. (NASDAQ: BOBE) ("BOBE" or the "Company") in connection with the proposed acquisition of the Company by Post Holdings Inc. ("POST") (NYSE: POST).  Under the terms of the agreement, the Company's shareholders will receive $77.00 in cash for each BOBE share they own.

WeissLaw is investigating whether BOBE's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, at least one analyst set a target price of $78.00 per share. 

Additionally, BOBE recently announced impressive financial results for the first quarter of fiscal year 2018.  It reported a remarkable 27.1% annual increase in net sales from $85.9 million to $109.3 million.  BOBE also reported double-digit growth in various other sectors, including a 38.3% annual increase in adjusted EBITDA from $14.1 million in the first quarter of fiscal year 2017 to $19.5 million in the same period of the following year, and an incredible 60.9% increase in non-GAAP net income from $0.23 per diluted share in 2017 to $0.37 per diluted share. 

Finally, according the acquisition announcement, this "highly complementary combination will significantly strengthen POST's portfolio of brands, [] and increase [its] presence in higher growth categories of the packaged food market." 

Given these facts, WeissLaw is investigating whether BOBE's Board acted in the best interests of its public shareholders to maximize shareholder value prior to entering into the agreement.  If you own BOBE shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at [phone] or by email at [e-mail]. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [e-mail] or fill out the form on our website, http://www.weisslawllp.com/bob-evans-farms-inc/

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