SAN DIEGO, May 7, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Gramercy Property Trust. (NYSE: GPT)
("Gramercy") breached their fiduciary duties in connection with the
proposed sale of the Company to Blackstone Real Estate Partners
VIII ("Blackstone")
On May 7, 2018, Gramercy announced
that it had signed a definitive merger agreement with Blackstone.
Under the terms of the agreement, Blackstone will acquire all
outstanding common shares of Gramercy for $27.50 per share in cash.
The investigation concerns whether the Gramercy board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the merger and whether
the board obtained the best price possible for Gramercy
shareholders. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $33.00
price target on the stock. The 52-week high for Gramercy was
$31.26.
If you are a shareholder of Gramercy and
believe the proposed sale price is too low or you're interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If
emailing, please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP