Kirby McInerney LLP is investigating potential claims against the Board of Directors of Saks Incorporated (“Saks” or the “Company”) (NYSE:SKS) related to the proposed acquisition of the Company by Hudson’s Bay Company (“HBC”). Under the terms of the transaction, Saks shareholders will receive $16.00 cash per share, valuing the Company at approximately $2.9 billion.
The investigation concerns whether the Saks Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $16.00 per share consideration adequately values Saks’ common shares. At least one analyst has set a price target of $18.50 per share for the value of Saks’ common stock.
If you are a Saks shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at email@example.com, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.