An investigation on behalf of investors, who currently hold shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK), was announced concerning whether the takeover of Blackhawk Network Holdings Inc. for $45.25 per share is unfair to NASDAQ:HAWK stockholders.

The investigation by a law firm concerns whether certain officers and directors of Blackhawk Network Holdings Inc breached their fiduciary duties owed to NASDAQ:HAWK investors in connection with the proposed acquisition.

Pleasanton, CA based Blackhawk Network Holdings, Inc. is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. On January 16, 2018, Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) announced that Silver Lake and P2 Capital Partners have agreed to acquire Blackhawk Network Holdings Inc (NASDAQ:HAWK) in an all-cash transaction for a total consideration of approximately $3.5 billion, which includes Blackhawks debt. Under the terms of the agreement, Blackhawk Network Holdings Inc (NASDAQ:HAWK) stockholders will receive $45.25 per share in cash upon closing of the transaction.

However, given that at least one analyst has set the high target price for NASDAQ:HAWK shares at $51.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:HAWK stockholders. More specifically, the investigation concerns whether the Blackhawk Network Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Blackhawk Network Holdings Inc reported that its annual Total Revenue rose from over $1.8 billion for the 52 weeks period that ended on January 2, 2016 to over $1.89 billion for the 52 weeks period that ended on December 31, 2016.

Shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) closed on January 22, 2018 at $45.20 per share.