San Diego, CA -- (ReleaseWire) -- 11/19/2012 -- An investigation on behalf of investors in Teavana Holdings, Inc. (NYSE:TEA) shares was announced concerning whether the offer by Starbucks Coffee Company to acquire Teavana Holdings, Inc. for $15.50 per NYSE:TEA share and the takeover process are unfair to investors in NYSE:TEA shares.
Investors who purchased shares of Teavana Holdings, Inc. (NYSE:TEA) prior to November 14, 2012, and currently hold any of those NYSE:TEA shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Teavana Holdings, Inc. breached their fiduciary duties owed NYSE:TEA investors in connection with the proposed acquisition.
On Nov. 14, 2012, Teavana Holdings, Inc. announced that Starbucks Coffee Company (NASDAQ:SBUX) has agreed to acquire Teavana Holdings, Inc. in an all-cash acquisition. Under the terms of the proposed transaction Teavana Holdings, Inc. (NYSE:TEA) stockholders of record will receive $15.50 per share in cash in the merger which will result in Teavana Holdings, Inc. becoming a wholly-owned subsidiary of Starbucks Coffee Company.
However, given that at least one analyst has set the high target price for NYSE:TEA shares at $24 per share and that shares of Teavana Holdings, Inc. (NYSE:TEA) traded as recently as May 2, 2012 as high as $21.47 per share and on February 27, 2012 as high as $24.70 per share, the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:TEA stockholders.
Furthermore, given that stockholders of Teavana Holdings, Inc. (NYSE:TEA) holding approximately 70% of the outstanding shares of common stock have already approved the merger agreement by written consent, the investigation focuses on whether the Teavana 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.
In addition Teavana Holdings’ financial performance improved over the past years. In fact, Teavana Holdings, Inc. (NYSE:TEA) reported that its Total Revenue rose from $64.86 million for the 52 weeks period that ended on Feb. 1, 2009 to $168.10 million for the 52 weeks period that ended on Jan. 29, 2012 and that its Net Income over the respective time periods increased from $1.20 million to $17.76 million.
NYSE:TVA shares closed at $15.45 per share on November 14, 2012.
Those who are current investors in Teavana Holdings, Inc. (NYSE:TEA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego