NEW YORK, Oct. 31, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors Liberty Property
Trust ("LPT" or the "Company") (NYSE: LPT) in connection with the
proposed acquisition of the Company by Prologis, Inc. ("PLD")
(NYSE: PLD). Under the terms of the acquisition agreement,
LPT shareholders will receive 0.675 shares of PLD for each LPT
share they own, representing consideration of $57.97 based on PLD's October 28 closing price.
If you own LPT shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, visit our website:
http://www.weisslawllp.com/liberty-property-trust/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether LPT's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, at least one analyst set a target price
of $62.00 per LPT share, or
$4.03 above the per-share
consideration. Additionally, PLD hopes to leverage LPT's
"high quality logistics real estate" portfolio to buttress its own
growth. According to the acquisition announcement, the
"transaction deepens [PLD's] presence in target markets such as
Lehigh Valley, Chicago, Houston, Central
PA and Southern California
. . . and is anticipated to create immediate cost synergies of
approximately $120 million from
corporate general and administrative cost savings, operating
leverage, lower interest expense and lease adjustments."
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-liberty-property-trust-300949355.html
SOURCE WeissLaw LLP
