CalAtlantic Group, Inc. (NYSE: CAA)
The firm is investigating potential claims against the Board of Directors of CalAtlantic Group, Inc. (“CalAtlantic”) (CAA) concerning the acquisition by Lennar Corporation. Under the terms of the agreement, valued at approximately $9.3 billion, CalAtlantic shareholders will have the choice to receive 0.885 shares of Lennar common stock or $48.26 in cash per CalAtlantic share owned. The consideration is significantly lower than at least one analyst’s estimated value of $51.00 per share.
The investigation centers on whether CalAtlantic’s Board of Directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of CalAtlantic could be as high as $51.00 per share.
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
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