July 12, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Nortek Inc (NASDAQ:NTK), was announced concerning whether the takeover of Nortek Inc. by Melrose Industries PLC for $86.00 per share is unfair to NASDAQ:NTK stockholders.

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

On July 6, 2016, Nortek Inc (NASDAQ:NTK) announced that it has signed an agreement and plan of merger with Melrose Industries PLC, a UK listed public company and Nevada Corp., a newly created wholly owned subsidiary of Melrose Industries PLC, to be acquired by Melrose Industries PLC for $86.00 per share in cash or an estimated total enterprise value of approximately $2.8 billion.

However, given that certain stockholders of Nortek, affiliated with each of Ares Management LLC, Anchorage Advisor Management LLC and Gates Capital Management, Inc., owning approximately 68.7% of the outstanding shares of Nortek common stock in the aggregate, have already entered into tender and support agreements with Melrose Industries PLC, pursuant to which such stockholders have agreed to tender their shares in the Offer, subject to certain limited termination rights, the

investigation concerns whether the offer is unfair to NASDAQ:NTK stockholders. More specifically, the investigation concerns whether the Nortek 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.

Shares of Nortek Inc (NASDAQ:NTK) closed on July 12, 2016, at $86.69 per share.