Investigation Overview
August 11, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Coca-Cola Enterprises Inc (NYSE:CCE), concerning whether the takeover of Coca-Cola Enterprises Inc is unfair to NYSE:CCE stockholders was announced.
The investigation by a law firm concerns whether certain officers and directors of Coca-Cola Enterprises Inc breached their fiduciary duties owed to NYSE:CCE investors in connection with the proposed acquisition.
On August 6, 2015, Coca-Cola Enterprises Inc (NYSE:CCE) (Euronext Paris: CCE), Coca-Cola Iberian Partners SA (CCIP) and Coca-Cola Erfrischungsgetrnke AG (CCEAG), a wholly owned subsidiary of The Coca-Cola Company (NYSE: KO), announced they have agreed to combine their businesses into a new company to be called Coca-Cola European Partners Plc. Under the terms of the agreement, Coca-Cola Enterprises shareholders will receive $14.50 in cash, and one share of the post-merger entity, for each share of Coca-Cola Enterprises they own, the value of which is equivalent to $66.34 per share of Coca-Cola Enterprises.
However, the investigation concerns whether the offer is unfair to NYSE:CCE stockholders. More specifically, the investigation concerns whether the Coca-Cola Enterprises 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.
Coca-Cola Enterprises Inc reported that its annual Total Revenue rose from over $8.06 billion in 2012 to over $8.26 billion in 2014.