SAN DIEGO, Feb. 20, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Rite Aid Corporation (NYSE: RAD)
("Rite Aid") breached their fiduciary duties in connection with the
proposed sale of the Company to Albertsons Companies.
On February 20, 2018, Rite Aid
announced that it had signed a definitive merger agreement with
Albertsons Companies. Under the terms of the agreement, in exchange
for every ten shares of Rite Aid common stock, Rite Aid
shareholders will have the right to elect to receive either (i) one
share of Albertsons Companies common stock plus approximately
$1.83 in cash or (ii) 1.079 shares of
Albertsons Companies stock. Albertsons Companies shareholders will
own more than 70 percent of the combined company, which is expected
to trade on the New York Stock Exchange.
The investigation concerns whether the Rite Aid board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Rite Aid
shares of common stock.
If you are a shareholder of Rite Aid and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
View original
content:http://www.prnewswire.com/news-releases/rite-aid-rad-alert-johnson-fistel-investigates-proposed-sale-of-rite-aid-corporation-are-shareholders-getting-a-fair-deal-300601139.html
SOURCE Johnson Fistel, LLP