An investigation on behalf of investors, who currently hold shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF), was announced concerning whether the takeover of Blue Buffalo Pet Products Inc. by General Mills, Inc for $40.00 per share is unfair to NASDAQ:BUFF stockholders.

The investigation by a law firm concerns whether certain officers and directors of Blue Buffalo Pet Products Inc breached their fiduciary duties owed to NASDAQ:BUFF investors in connection with the proposed acquisition.

On February 23, 2018, General Mills, Inc. (NYSE: GIS) and Blue Buffalo Pet Products, Inc. (NASDAQ: BUFF) announced that they have entered into an agreement under which General Mills will acquire Blue Buffalo for $40.00 per share in cash.

However given that at least one analyst has set the high target price for NASDAQ:BUFF shares at $40.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:BUFF stockholders. More specifically, the investigation concerns whether the Blue Buffalo Pet Products 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.

Wilton, CT based Blue Buffalo Pet Products Inc reported that its annual Total Revenue rose from over $1.14 billion in 2016 to over $1.27 billion in 2017 and that its Net Income increased from $130.24 million in 2016 to $198.93 million in 2017.