Shareholder Update: Investigation Of Management Buyout Of AMREP Corp. By Tripp Levy PLLC
Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of AMREP Corp. (NYSE: AXR). On September 8, 2010, Nicholas Karabots, the Vice Chairman of AMREP and owner of 60% of the outstanding shares of AMREP, offered to acquire the remaining shares of AMREP that he does not already own for $12 per share in cash.
In addition, Mr. Karabots announced that certain other stockholders of AMREP could participate in the transaction with him, and that he has no interest in selling his interest in AMREP to anyone else.
The investigation concerns, among other things, whether the consideration to be paid to AMREP shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of AMREP. Indeed, analysts have projected that AMREP’s true inherent value is in excess of $15 per share. The investigation further concerns whether the directors of AMREP may not be acting in AMREP shareholders' best interests in connection with the sale process of AMREP.
If you own AMREP common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
|Tripp Levy PLLC|
|125 East 82 nd Street|
|9 th Floor|
|New York, New York|
|Toll Free: 877-772-3975|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV