AdvancePierre Foods Holdings, Inc.
ADVANCEPIERRE FOODS (APFH) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of AdvancePierre Foods Holdings, Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of AdvancePierre Foods Holdings, Inc. (NYSE: APFH) (“AdvancePierre Foods” or the “Company”) relating to the sale of the Company to Tyson Foods, Inc. (“Tyson Foods”). On April 25, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Tyson Foods will acquire AdvancePierre Foods in a merger, via a tender offer worth $4.2 billion. As a result of the merger, AdvancePierre Foods’ shareholders are only anticipated to receive $40.25 per share in cash in exchange for each share of AdvancePierre Foods.
Andrews & Springer's investigation so far has revealed that the consideration AdvancePierre Foods’ shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, AdvancePierre Foods’ stock has already consistently traded above the $40.25 per share consideration from April 25, 2017 through May 16, 2017, when the Company’s share price closed at $40.31 per share. Our investigation is also looking into whether AdvancePierre Foods’ top executives were conflicted and acted in their own self-interest when approving the merger thus making the process and consideration unfair.