NEW YORK, Oct. 12, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of BioMed Realty Trust Inc. ("BMR" or the "Company") by The Blackstone Group is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of BMR for agreeing to sell the Company to Blackstone. On October 8, 2015, the Company announced it had reached a definitive agreement for Blackstone to acquire all outstanding shares of BMR in a transaction valued at approximately $8 billion. Under the terms of the agreement, BMR shareholders will receive $23.75 in cash for each BMR share they own.
WeissLaw is investigating whether BMR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the offer price represents a mere 9.7% premium of the Company's October 7, 2015 trading price of $21.64. Additionally, BMR shares traded at $25.11 as recently as January. In the second quarter of 2015, BMR announced that 91% of its 18.4 million square foot portfolio was leased.
Given these facts, WeissLaw is investigating whether BMR's Board acted in the best interests of BMR's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Blackstone. If you own BMR shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-biomed-realty-trust-inc-acquisition-by-the-blackstone-group-may-not-be-in-the-best-interests-of-bmr-shareholder-300158013.html
SOURCE WeissLaw LLP
