An investigation on behalf of investors of Skyline Corporation (NYSE: SKY) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 04/19/2018 -- An investigation was announced for investors, who currently hold shares of Skyline Corporation (NYSE: SKY), over the takeover of Skyline Corporation by Champion Enterprises Holdings.
Investors who purchased shares of Skyline Corporation (NYSE: SKY) and currently hold any of those NYSE: SKY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Skyline Corporation breached their fiduciary duties owed to NYSE: SKY investors in connection with the proposed acquisition.
On January 5, 2018, Skyline Corporation ("Skyline") (AMEX:SKY) and Champion Enterprises Holdings, LLC ("Champion"), the parent company of Champion Home Builders, Inc., today announced that they have entered into a definitive agreement for the two companies to combine their operations. Under the terms of the agreement, Champion will contribute 100% of the shares of its operating subsidiaries, Champion Home Builders, Inc. and CHB International B.V., to Skyline.
However, given that Art Decio, Skyline's largest shareholder, has already agreed to vote in favor of and fully support the transaction, the investigation concerns whether the offer is unfair to NYSE: SKY stockholders. More specifically, the investigation concerns whether the Skyline Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Skyline Corporation reported that its Total Revenue rose from $211.77 million for the 12 months period that ended on May 31, 2016 to $236.50 million for the 12 months period that ended on May 31, 2017.
Shares of Skyline Corporation (NYSE: SKY) closed on April 18, 2018, at $26.18 per share.
Those who are current investors in Skyline Corporation (NYSE: SKY) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com