San Diego, CA — 11/30/2017 — The takeover of Almost Family Inc is under investigation over alleged wrongdoing. The investigation was announced for investors, who currently hold NASDAQ:AFAM shares.
Investors who purchased shares of Almost Family Inc (NASDAQ:AFAM) and currently hold any of those NASDAQ:AFAM shares have certain options and should contact the Shareholders Foundation at [email protected] or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of NASDAQ:AFAM breached their fiduciary duties owed to NASDAQ:AFAM investors in connection with the proposed acquisition.
On November 16, 2017, LHC Group, Inc. (NASDAQ: LHCG) and Almost Family, Inc. (NASDAQ: AFAM) announced today that they have agreed to combine in an all-stock merger of equals transaction pursuant to a definitive merger agreement unanimously approved by the Boards of Directors of each company. Under terms of the transaction, Almost Family shareholders will receive 0.9150 shares of LHC Group for each existing Almost Family share. Based on a closing price of $66.53 per NASDAQLHCG shares shareholders of Almost Family Inc (NASDAQ:AFAM) will receive a value of approximately $60.87 per NASDAQ:AFAM share.
However, given that at least one analyst has set the high target price for NASDAQ:AFAM shares at $73.00 per share and given that NASDAQ:AFAM share reached in the open market on November 22, 2017 $66.15 per share, the investigation concerns whether the offer is unfair to NASDAQ:AFAM stockholders. More specifically, the investigation concerns whether the Almost Family Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Almost Family Inc (NASDAQ:AFAM) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]
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