GYMBORE : Kendall Law Group Investigates Gymboree Corporation Acquisition for Shareholders

October 12, 2010 at 08:15 pm IST

MarketScreener.com By

Kendall Law Group, led by former federal judge Joe Kendall, is investigating Gymboree Corporation (NASDAQ: GYMB) for shareholders in connection with the proposed acquisition by Bain Capital LLC. The national securities firm's investigation seeks to determine whether Gymboree and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Gymboree shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.

On October 11, 2010, the companies announced the definitive merger agreement under which Gymboree would be acquired by Bain in a transaction valued at approximately $1.8 billion. Under the terms of the agreement, Gymboree stockholders will receive $65.40 in cash for each share of Gymboree/GYMB common stock held. The offer price represents an approximately 22% premium to Gymboree's $52.95 closing price on Friday, October 8. In addition, according to Thompson/First Call, at least one analyst has set a price target of $68.00 per share for Gymboree stock. Due to these factors, the firm believes the transaction significantly undervalues the company.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.