SAN DIEGO--(BUSINESS WIRE)--Haeggquist & Eck, LLP a shareholder rights litigation firm, is investigating the proposed sale of Whole Foods Market, Inc. (NASDAQ: WFM) (“Whole Foods” or the “Company”) to Amazon.com, Inc. (NASDAQ: AMZN) (“Amazon”). On June 15, 2017, the Company reportedly entered an Agreement and Plan of Merger with Amazon, whereby Amazon will pay $42 per share in cash for each share of Whole Foods. Notably, at least one analyst has already reported a $48 per share price target, and predicts that competing bids may be forthcoming and be as high as $57 per share. The investigation will include whether the Company’s Board of Directors and executives failed to comply with their fiduciary duties to the Company and its shareholders in connection with the proposed transaction, including whether proper consideration was given to alternatives other than an acquisition by Amazon, and whether the proposed price is fair and adequate consideration.
Whole Foods Shareholders Have Legal Options
Concerned Whole Foods shareholders who would like more information about their rights and potential remedies, including those who believe that the proposed transaction is unfair as to price or terms, may contact attorneys Amber Eck or Kathleen Herkenhoff at 619-342-8000, firstname.lastname@example.org or email@example.com.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
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