SOURCE: Shareholders Foundation
SAN DIEGO, CA--(Marketwire - Nov 26, 2012) - The Shareholders Foundation, Inc. announces that an investor in Teavana Holdings, Inc. (TEA) shares filed a lawsuit to block the proposed takeover of Teavana Holdings, Inc. by Starbucks Coffee at $15.50 per TEA share.
Investors who purchased shares of Teavana Holdings, Inc. (TEA) prior to November 14, 2012 and currently hold any of those Teavana Holdings, Inc. shares, have certain options and should contact the Shareholders Foundation, Inc. at firstname.lastname@example.org or call +1 (858) 779-1554.
On Nov. 14, 2012, Teavana Holdings, Inc. announced that Starbucks Coffee Company (SBUX) has agreed to acquire Teavana Holdings, Inc. in an all-cash acquisition. Under the terms of the proposed transaction Teavana Holdings, Inc. (TEA) stockholders of record will receive $15.50 per share in cash in the merger which will result in Teavana Holdings, Inc. becoming a wholly-owned subsidiary of Starbucks Coffee Company.
However, the plaintiff claims that the $15.50 offer is unfair to TEA stockholders and undervalues the company. Indeed, at least one analyst has set the high target price for TEA shares at $24 per share and that shares of Teavana Holdings, Inc. (TEA) traded as recently as May 2, 2012 as high as $21.47 per share and on February 27, 2012 as high as $24.70 per share.
Furthermore, so the plaintiff, the process is also unfair to TEA investors. Indeed stockholders of Teavana Holdings, Inc. (TEA) holding approximately 70% of the outstanding shares of common stock have already approved the merger agreement by written consent.
Those who currently are investors in Teavana Holdings, Inc. (TEA) shares and purchased their shares before the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.