General Mills announced earlier this week that it has reached an agreement to acquire the Annie’s brand, but according to reports, one law firm is not convinced the move would be in the best interest of shareholders.
Robbins Arroyo said it has launched an investigation into the proposed takeover, which would see Annie’s shareholders receiving $46 per share. The firm said in a press release that it is now probing whether Annie’s board of directors kept its shareholders’ best interests in mind when striking an agreement with General Mills.
Robbins Arroyo noted that Annie’s shareholders have the right to file a class action to block the merger should they deem it necessary.
Full content: MarketWatch
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