Branham Law, LLP has launched an investigation Avis Budget Group's purchase of Zipcar, Inc. (“Zipcar”) (Nasdaq: ZIP). The proposed deal, valued at approximately $500 million, offers Zipcar shareholders only $12.25 in cash for each share they own. This value is startlingly below 52 week high of $16.25 per share.
At issue is whether Zipcar’s Board of Directors took the appropriate steps to ensure that Zipcar’s shareholders are receiving the highest possible share price or whether the proposed transaction undervalues the Company. At least one Analyst has pegged the actual value of Zipcar shares at $13.00 per share. “This deal appears to be an undervaluation of Zipcar’s shares,” said attorney Trey Branham. “If so, we intend make an effort to ensure that the board maximizes value for its shareholders.”
Branham Law, LLP has significant experience in shareholder representation nationwide.