CONCUR TECHNOLOGIES SHAREHOLDER ALERT: Proposed Sale of Concur Technologies, Inc. under Investigation by Johnson & Weaver, LLP in Connection with the Proposed Sale of the Company to SAP SE
Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Concur Technologies, Inc. (NASDAQ:CNQR) breached their fiduciary duties in connection with the proposed sale of the Company to SAP America, Inc., a subsidiary of SAP SE.
Concur provides integrated travel and expense management solutions for companies worldwide.
On September 18, 2014, Concur announced it had signed a definitive agreement to be acquired by SAP. Under the terms of the agreement, SAP will acquire all outstanding shares of Concur for US$129.00 per share in an all-cash transaction valued at approximately US$8.3 billion.
The investigation will determine whether Concur’s board of directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the Company before entering into this agreement and whether the proposed consideration adequately values the Company’s common stock. Among other things, Johnson & Weaver is concerned that the $129.00 per share agreed to by Concur’s board of directors does not adequately reflect the Company’s outstanding prospects, as earnings are expected to increase sharply in the coming years. Moreover, one Wall Street analyst has a $130 price target on the stock and the stock traded as high as $130.39 earlier in 2014.
If you are a shareholder of Concur and believe that the proposed buyout price is too low and you are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Sorry. No data so far.