The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Emeritus Corp. (“Emeritus” or “the Company”) (NYSE: ESC) and other violations of state law by the board of directors of Emeritus relating to the proposed merger of the Company with Brookdale Senior Living Inc. (“Brookdale”).
Under the terms of the transaction, Emeritus shareholders will receive will receive 0.95 shares of Brookdale common stock for each share of Emeritus stock they own. In connection with the transaction, Daniel R. Baty, the Chairman of the Board of Emeritus and certain of his affiliates have already agreed to support the deal. The deal has a total approximate value of $2.8 billion, including the assumption of debt. According to Yahoo! Finance, at least one analyst following Emeritus has set a target price of $31.00 per share.
The firm’s investigation seeks to determine, among other things, whether the board of directors of Emeritus breached their fiduciary duties by failing to maximize shareholder value.
If you currently own common stock of Emeritus and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
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