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If you purchased shares of ClubCorp Holdings Inc (NYSE:MYCC) and currently hold any of those NYSE:MYCC 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
August 02, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of ClubCorp Holdings Inc (NYSE:MYCC), was announced concerning whether the takeover of ClubCorp Holdings Inc. by affiliates of Apollo Global Management, for $17.12 per share is unfair to NYSE:MYCC stockholders.
The investigation by a law firm concerns whether certain officers and directors of ClubCorp Holdings Inc breached their fiduciary duties owed to NYSE:MYCC investors in connection with the proposed acquisition.
On July 09, 2017, ClubCorp Holdings Inc (NYSE:MYCC) announced that it has entered into a an agreement with affiliates of certain investment funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, Apollo') (NYSE:APO), pursuant to which the Apollo funds will acquire all of the outstanding shares of ClubCorp Holdings Inc (NYSE:MYCC) for $17.12 per share in cash, or approximately $1.1 billion.
However, given that at least one analyst has set the high target price for NYSE:MYCC shares at $27.00 per share and given that NYSE:MYCC shares traded in the open market in February 2017 as high as $17.45 per share, the investigation concerns whether the offer is unfair to NYSE:MYCC stockholders. More specifically, the investigation concerns whether the ClubCorp 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.
ClubCorp Holdings Inc reported that its Total Revenue rose from over $1.05 billion for the 52 weeks period that ended on December 29, 2015 to over $1.08 billion for the 52 weeks period that ended on December 27, 2016 and that its Net Loss of $9.51 million for the 52 weeks period that ended on December 29, 2015 turned into a Net Income of $3.58 million for the 52 weeks period that ended on December 27, 2016.
Shares of ClubCorp Holdings Inc (NYSE:MYCC) reached in 2015 as high as $24.27 per share.
