SAN DIEGO and NEW YORK,
April 17, 2013 /PRNewswire/
-- Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the acquisition of National Financial Partners Corp.
(NYSE: NFP) by Madison Dearborn Partners, LLC, a private equity
investment firm. On April 15,
2013, NFP announced the signing of a definitive merger
agreement whereby NFP shareholders will receive $25.35 in cash for each share of NFP stock.
(Logo:
http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)
The Board of Director's Actions May Prevent NFP
Shareholders from Receiving Maximum Value for Their
Stock
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at NFP is undertaking a fair process to obtain maximum
value and adequately compensate its shareholders in the merger or
whether they are seeking to benefit themselves. The
$25.35 merger consideration
represents a premium of only 8.29% based on NFP's closing price on
April 12, 2013, the last trading day
prior to the merger announcement. Further, the $25.35 consideration represents a premium of only
11.84% to NFP's average stock price for the month prior to the
announcement, which is substantially below the average premium of
31.15% for comparable transactions over the past three
years.
Is the Acquisition Best for NFP and Its
Shareholders?
On February 14, 2013, NFP released
its 2012 earnings reflecting strong performance in all of the
company's business segments. Specifically, the company
reported that its revenue increased to $1.062 billion in 2012, compared to $1.013 billion for 2011. Further, NFP's
adjusted EBITDA in 2012 increased 11.5% to $141.0 million, compared to $126.4 million for 2011. Moreover, NFP has
exceeded analysts' earnings per share and net income expectations
in the seven previous quarters.
Given these facts, the firm is examining the board of directors'
decision to sell NFP now rather than allow shareholders to continue
to participate in the company's continued success and future growth
prospects.
NFP shareholders have the option to file a class action lawsuit
to secure the best possible price for shareholders and the
disclosure of material information so shareholders can vote on the
transaction in an informed manner. NFP shareholders
interested in information about their rights and potential remedies
can contact 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 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. For more information, please go to
http://www.robbinsarroyo.com.
Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/nfp/
Attorney Advertising.Past results do not guarantee a similar
outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP