NEW YORK, Feb. 28, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Blue Buffalo Pet Products, Inc. ("BUFF" or the "Company") (NASDAQ: BUFF) in connection with the proposed acquisition of the Company by General Mills Inc. ("GIS") (NYSE: GIS). Under the terms of the acquisition agreement, shareholders of BUFF will receive $40.00 in cash for each BUFF share they own.
WeissLaw is investigating whether BUFF's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $52.00, or $12.00 above the offer price. Additionally, according to the acquisition announcement, there are several strategically compelling and financial benefits for GIS in this transaction, including:
- Expansion of its brand portfolio with the addition of BUFF, a leading brand with strong customer base to its product range;
- Entry into the highly attractive $30 billion pet foods market, which has consistently generated 3-4% growth; and
- Meaningful improvements to GIS's growth and margin profile.
Given these facts, WeissLaw is investigating whether BUFF shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own BUFF shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/blue-buffalo-pet-products-inc/
SOURCE WeissLaw LLP