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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Liberty Property Trust | NYSE:LPT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 61.95 | 0 | 00:00:00 |
NEW YORK, Oct. 31, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors Liberty Property Trust ("LPT" or the "Company") (NYSE: LPT) in connection with the proposed acquisition of the Company by Prologis, Inc. ("PLD") (NYSE: PLD). Under the terms of the acquisition agreement, LPT shareholders will receive 0.675 shares of PLD for each LPT share they own, representing consideration of $57.97 based on PLD's October 28 closing price.
If you own LPT shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/liberty-property-trust/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether LPT's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $62.00 per LPT share, or $4.03 above the per-share consideration. Additionally, PLD hopes to leverage LPT's "high quality logistics real estate" portfolio to buttress its own growth. According to the acquisition announcement, the "transaction deepens [PLD's] presence in target markets such as Lehigh Valley, Chicago, Houston, Central PA and Southern California . . . and is anticipated to create immediate cost synergies of approximately $120 million from corporate general and administrative cost savings, operating leverage, lower interest expense and lease adjustments."
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
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 stockinfo@weisslawllp.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-liberty-property-trust-300949355.html
SOURCE WeissLaw LLP
Copyright 2019 PR Newswire
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