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SOURCE Tripp Levy PLLC
NEW YORK, July 15, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, has announced that it is investigating the acquisition of Lorillard Inc. (NYSE: LO) on behalf of investors. Reynolds American Inc.("RAI") and Lorillard announced that they have entered into a definitive agreement in which RAI has agreed to acquire Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share. Under the terms of the transaction, Lorillard shareholders will receive, for each Lorillard share, $50.50 in cash and 0.2909 of a share in RAI stock at closing, representing $68.88 per share based on RAI's closing share price yesterday.
The investigation concerns whether the senior management and board of directors of Lorillard engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the implied price of $68.88 is unfairly low, and whether the management of Lorillard received any benefits for their own self interests that are not also being shared with other shareholders of Lorillard.
If you are a shareholder of Lorillard and would like additional information as to how the acquisition may affect your rights as a shareholder, please call us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.