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Dec. 17, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of KKR Financial Holdings LLC ("KKR Financial" or the "Company") (NYSE: KFN) concerning the proposed merger of the Company with Kohlberg Kravis Roberts & Co. L.P. ("KKR & Co.") (NYSE: KKR) in an all-stock transaction. The investigation is also evaluating whether KKR & Co. aided and abetted such breaches of fiduciary duty.
Under the terms of the proposed transaction, the Company's shareholders will receive 0.51 KKR & Co. shares for each of the Company's shares they own. The total value for the Company is estimated at approximately
$2.6 billion. The Company was spun off by KKR & Co. approximately 9 years ago, and several members of management of KKR & Co. and the Company have significant longstanding ties to one another. KKR & Co. already manages the Company's assets, and by assuming total control of the Company, KKR & Co. expects to immediately increase its book value, to the possible detriment of the Company's shareholders.
The investigation seeks to determine, among other things, whether the Company's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed merger with KKR & Co. and the overall fairness of the process by which the Company's Directors considered and approved the transaction. The investigation further seeks to determine wither the board acted for their own self-interests.
If you are a shareholder of KKR Financial and would like additional information regarding this matter, at no cost or expense, please contact us at:Tripp Levy PLLC
New York, New YorkToll free: 1-877-772-3975Email:
Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome.