Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of MPG Office Trust, Inc. (MPG)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MPG Office Trust, Inc. (“MPG” or the “Company”) (NYSE: MPG) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to a newly formed fund controlled by Brookfield Office Properties Inc. (“Brookfield”) (NYSE: BPO) in an all-cash deal valued at about $2 billion. Under the terms of the proposed transaction, MPG’s stockholders will receive $3.15 in cash for each share of MPG common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $3.50 for MPG.
The merger agreement also allows for a subsidiary of Brookfield to begin a tender offer to purchase, subject to the offer conditions, all of the MPG’s outstanding preferred shares for $25.00 per share in cash, without interest.
The investigation focuses on whether MPG’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of MPG’s shareholders.
If you own common or preferred stock in MPG and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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