Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of The Timberland Company (NYSE:
) ("Timberland") to VF Corporation in a transaction representing a total enterprise value of approximately $2 billion net of cash acquired.
Under the terms of the agreement, holders of Timberland’s common stock at the effective time of the merger will receive $43.00 per share in cash. Concurrently with the execution of the merger agreement, Sidney W. Swartz, Chairman of Timberland’s Board of Directors, Jeffrey B. Swartz, President and Chief Executive Officer of Timberland, and their affiliates (collectively, the “Supporting Stockholders”), who collectively control approximately 73.5% of Timberland’s combined voting power, entered into a Voting Agreement (the “Voting Agreement”) with VF Corporation. The Voting Agreement provides that so long as the Voting Agreement has not previously been terminated in accordance with its terms, the Supporting Stockholders will deliver a written consent adopting the merger agreement on July 26, 2011.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders.
If you are a holder of Timberland stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
If you are a shareholder of Timberland and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to:
. All e-mail correspondence should make reference to Timberland.
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at
. © 2011 Bull & Lifshitz, LLP. The law firm responsible for this advertisement is Bull & Lifshitz, LLP, 18 East 41
Street, New York, New York 10017, (212) 213-6222. Prior results do not guarantee or predict a similar outcome with respect to any future matter