SAN DIEGO, Jan. 2, 2019 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of MedEquities Realty
Trust (NYSE: MRT) ("MedEquities") breached their fiduciary
duties in connection with the proposed sale of the Company to Omega
Healthcare Investors, Inc. (NYSE: OHI) ("Omega").
On January 2, 2019, MedEquities
announced that it had signed a definitive merger agreement with
Omega. Under the terms of the agreement, MedEquities stockholders
will receive a fixed exchange ratio of 0.235 Omega common shares
plus $2.00 in cash for each share of
MedEquities common stock held by them, which represents a value of
$10.26 per MedEquities share based on
the $35.15 closing price for Omega
common stock on December 31, 2018.
However, shareholders will be subject to the future price
fluctuation of Omega's stock price. Additionally, MedEquities will
declare a special dividend of 21
cents a share in cash, which will be payable to shareholders
of record on the day immediately before the date of closing.
The investigation concerns whether the MedEquities board failed
to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for MedEquities shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given that one Wall Street analyst has a $12.00 price target on the stock and analysts'
projections for future earnings and revenue growth. The
52-week high for MedEquities was $12.04.
If you are a shareholder of MedEquities and believe
the proposed buyout 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.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
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
https://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