Robbins Arroyo LLP: Acquisition of JAVELIN Mortgage Investment Corp (JMI) by ARMOUR Residential REIT Inc (ARR) May Not Be in ...
02 Mars 2016 - 9:03PM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of JAVELIN Mortgage
Investment Corp. (NYSE: JMI) by ARMOUR Residential REIT Inc. (NYSE:
ARR). On March 2, 2016, the two companies announced the signing of
a definitive merger agreement pursuant to which ARMOUR will acquire
JAVELIN. Under the terms of the agreement, JAVELIN shareholders
will receive $7.14 in cash for each share of JAVELIN common
stock.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/javelin-mortgage-investment-corporation
Is the Proposed Acquisition Best for JAVELIN and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the Board
of Directors at JAVELIN is undertaking a fair process to obtain
maximum value and adequately compensate its shareholders.
As an initial matter, the $7.14 merger consideration represents
a premium of only 19% based on JAVELIN's closing price on March 1,
2016. This premium is below the average one-day premium of nearly
24% for comparable transactions within the past year. In the last
three years, JAVELIN traded as high as $20.20 on May 3, 2013, and
most recently traded above the merger consideration – at $7.15 – on
August 20, 2015.
In light of these facts, Robbins Arroyo LLP is examining
JAVELIN's board of directors' decision to sell the company now
rather than allow shareholders to continue to participate in the
company's continued success and future growth prospects.
JAVELIN shareholders have the option to file a class action
lawsuit to ensure the board of directors obtains the best possible
price for shareholders and the disclosure of material information.
JAVELIN shareholders interested in information about their rights
and potential remedies can contact attorney Darnell R. Donahue at
(800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20160302006394/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
Javelin Mortgage Investment Corp. (NYSE:JMI)
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