Bull & Lifshitz LLP announced an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Winn-Dixie Stores Inc. (WINN) to BI-LO LLC. Pursuant to the definitive agreement, BI-LO would acquire all of the outstanding shares of Winn-Dixie stock in the merger. Winn-Dixie shareholders would receive $9.50 in cash per share of Winn-Dixie common stock.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the company's shareholders.
In addition, Bull & Lifshitz announced an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Morton's Restaurants Group, Inc. (MRT) to Tilman J. Fertitta through his wholly-owned company, Fertitta's Morton's Restaurants, Inc. and its unit Fertitta Morton's Acquisition, Inc. As per the deal, Morton's stockholders would receive $6.90 for every Morton's stock owned. Fertitta would buy Morton's through an all-cash tender and merger. The tender offer would commence no later than 10 business days from December 16, 2011.
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