Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of the KKR Financial Holdings LLC Proposed Sale to ...
December 17 2013 - 12:10AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of KKR
Financial Holdings (NYSE: KFN) breached their fiduciary duties in
connection with the planned sale of the company to Kohlberg Kravis
Roberts & Co. L.P. (NYSE: KKR).
KFN is a specialty finance company with a portfolio of assets
spanning a complementary range of strategies. KFN is externally
managed by KKR.
On December 16, 2013, KFN and KKR announced that they had
entered into an agreement whereby KKR would acquire KFN in an
all-stock transaction worth approximately $2.6 billion. Under the
terms of the transaction, which is scheduled to be completed in the
first half of 2014, KFN shareholders stand to receive 0.51 common
units of KKR for each common share of KFN. Based on KKR’s closing
price as of December 16, 2013 the exchange ratio equates to a value
of $12.79 per common share of KFN.
The investigation concerns whether KFN’s board failed to satisfy
their duties to the company’s shareholders, including whether the
board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for KFN’s shares
of common stock. The investigation also concerns KKR’s role in the
process leading up to the announcement.
If you are a shareholder of KFN and would like additional
information concerning your legal rights, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California and New York. 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.johnsonandweaver.com.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext.
118jimb@johnsonandweaver.com
Kkr Financial (NYSE:KFN)
Historical Stock Chart
From Sep 2024 to Oct 2024
Kkr Financial (NYSE:KFN)
Historical Stock Chart
From Oct 2023 to Oct 2024