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If you purchased shares of Caribou Coffee Company, Inc. (NASDAQ:CBOU) prior to December 17, 2012, and currently hold any of those NASDAQ:CBOU shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
Dec. 17, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in Caribou Coffee Company, Inc. (NASDAQ:CBOU) shares was announced concerning whether the offer by Joh. A. Benckiser Group to acquire Caribou Coffee Company, Inc. for $16.00 per NASDAQ:CBOU share and the takeover process are unfair to investors in NASDAQ:CBOU shares.
The investigation by a law firm concerns whether certain officers and directors of Caribou Coffee Company, Inc. breached their fiduciary duties owed NASDAQ:CBOU investors in connection with the proposed acquisition.
On Dec. 17, 2012, Caribou Coffee Company, Inc. (NASDAQ: CBOU) and the Joh. A. Benckiser Group (JAB) announced a merger agreement under which an affiliate of Joh. A. Benckiser Group will acquire Caribou Coffee Company for $16.00 per share in cash, or a total of approximately $340 million. Caribou Coffee Company said that the $16.00offer represents a premium of approximately 30 percent over Caribous closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction.
However, at least one analyst has set the high target price for NASDAQ:CBOU shares at $20.00 per share and NASDAQ:CBOU shares traded as recently as March 30, 2012 as high as $18.64 per share, thus both well above the current offer.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to Caribou Coffee Company, Inc. (NASDAQ:CBOU stockholders.
Furthermore, Coffee Companys financial performance improved over recent years. In fact, Caribou Coffee Company, Inc. (NASDAQ:CBOU) reported that its Total Revenue rose from $253.90 million for the 52 weeks period that ended on Dec. 28, 2008 to $326.50 million for the 52 weeks period that ended on Jan. 1, 2012 and that its Net Loss of $16.34 million for the 52 weeks period that ended on Dec. 28, 2008 turned into a Net Income of $35.22 million for the 52 weeks period that ended on Jan. 1, 2012.
Thus, the investigation focuses on whether the Caribou Coffee Company 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.
