SAN DIEGO and SAN FRANCISCO, Dec. 18,
2013 /PRNewswire/ -- Shareholder rights attorneys at
Robbins Arroyo LLP are investigating the acquisition of KKR
Financial Holdings LLC (NYSE: KFN) by KKR & Co. L.P. (NYSE:
KKR). On December 16, 2013, the
two companies announced the signing of a definitive merger
agreement pursuant to which KKR will acquire KKR Financial through
a stock-for-stock transaction under which KKR Financial
shareholders will receive 0.51 shares of KKR stock for each share
of KKR Financial stock. Based on KKR's stock price on
December 16, 2013, KKR Financial
shareholders will receive the equivalent of $12.79 per share.
(Logo:
http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)
Is the Proposed Merger Best for KKR Financial and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at KKR Financial is undertaking a fair process to
obtain maximum value and adequately compensate KKR Financial
shareholders in the merger.
As an initial matter, KKR is the former parent of KKR Financial
and currently manages KKR Financial's assets through its wholly
owned subsidiary, KKR Financial Advisors LLC. Further, the two
companies' management teams continue to enjoy close ties to one
another as KKR's CEO, Craig J. Farr,
is a member of both KKR and KKR Financial Advisors. Moreover,
members of KKR also sit on the board of KKR Financial.
Given these facts, Robbins Arroyo LLP is examining the KKR
Financial board of directors' decision to sell the company to KKR
now rather than allow shareholders to continue to participate in
the company's continued success and future growth prospects, and
whether they are seeking to benefit themselves.
KKR Financial shareholders have the option to file a class
action lawsuit to ensure the board of directors properly evaluates
the proposal to obtain the best possible price for shareholders and
the disclosure of material information. KKR Financial
shareholders interested in information about their rights and
potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form
on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law
firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1
billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP