SAN DIEGO & CARLSBAD, Calif.--(BUSINESS WIRE)--Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of HomeFed Corporation (OTC: HOFD) by Jefferies Financial Group Inc. (NYSE: JEF). On April 15, 2019, the two companies announced the signing of a definitive merger agreement pursuant to which Jefferies will acquire the 30% of HomeFed's common stock that it does not already own. On May 2, 2019, the terms of the agreement were modified; under the terms of the modified agreement, HomeFed shareholders will receive two shares of Jefferies common stock for each share of HomeFed common stock. This represented a cash equivalent value of $42.04 as of Jefferies' closing price on February 19, 2019, the day the acquisition was proposed, and currently represents a cash equivalent value of $39.84 as of Jefferies' closing price on May 7, 2019.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/homefed-corporation/
Is the Proposed Acquisition Best for HomeFed and Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board of directors at HomeFed is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
In the last three years, HomeFed traded as high as $58.75 on March 29, 2018, and traded well above the current consideration value – at $50.00 – as recently as November 1, 2018.
In light of these facts, Robbins Arroyo LLP is examining HomeFed's board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
HomeFed shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. HomeFed shareholders interested in information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, firstname.lastname@example.org, 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.
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