NEW
YORK, May 10, 2023 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman LLP is investigating the
proposed $30 per share acquisition of
Franchise Group, Inc. (NASDAQ: FRG) by the company's senior
management team. The firm is concerned about the price being
offered as well as potential conflicts of interest.
For a free consultation and to learn more about our
investigation, click here or visit:
https://julieholleman.com/?p=3012
Franchise Group owns and manages several retail outlets,
including Pet Supplies Plus, Wag N' Wash, American Freight, The
Vitamin Shoppe, Badcock Home Furniture & More, Buddy's Home
Furnishings and Sylvan Learning. The company's largest shareholders
include Brian R. Kahn and his
private equity firm, Vintage Capital Management, LLC, who oversaw
the acquisition of Franchise Group's various portfolio
companies.
On May 10, 2023, Franchise Group
announced that Kahn and other members of his management team
reached a deal to buy out the company's other shareholders for just
$30 per share, which values the
company at approximately $2.6
billion. The per share deal price is less than the 52-week
high trading price of $44.25 per
share, and it's also less than a $35
per share price target established by financial analysts.
Julie & Holleman is concerned not only about the inadequate
deal price, but also about the conflict of interest arising from
the fact that public shareholders will get cashed out at an
inadequate price while company insiders will retain their interest
and share in the company's substantial upside potential.
The deal is expected to close in the second half of 2023.
If you would like more information about Julie & Holleman's
investigation, please contact W. Scott
Holleman at scott@julieholleman.com or (929) 415-1020, or
submit your contact information by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions, and corporate
investigations. The firm's attorneys litigate in state and federal
courts across the nation and have helped secure hundreds of
millions of dollars for aggrieved companies and their shareholders.
For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising. Past results do not guarantee future outcomes.
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SOURCE Julie & Holleman LLP