Mr Cooper Group Inc (COOP)

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(NSM) Merger Voting Alert:


Johnson Fistel Investigates Proposed Sale of Nationstar Mortgage Holdings Inc.; Is the Deal in the...
SAN DIEGO, June 18, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Nationstar Mortgage Holdings Inc. (NYSE: NSM) ("Nationstar") breached their fiduciary duties in connection with the proposed sale of the Company to WMIH Corp. (NASDAQ: WMIH) ("WMIH").
On February 13, 2018, Nationstar announced that it had signed a definitive merger agreement with WMIH. Under the terms of the agreement, Nationstar shareholders may elect to receive $18.00 in cash or 12.7793 shares of WMIH common stock for each share of Nationstar common stock they own, subject to an overall proration to ensure that 32% of the total outstanding Nationstar shares are exchanged for the stock consideration. Upon completion of the transaction, Nationstar shareholders will own approximately 36% of the combined company, and WMIH shareholders will own approximately 64%.
The investigation concerns whether the Nationstar board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Nationstar shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's projected revenue and earnings growth and one Wall Street analyst has a $23.00 price target on the stock. The 52-week high for Nationstar was $20.71.
A shareholder vote has been set for June 29, 2018, if you are a shareholder of Nationstar and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([e-mail]) at 619-814-4471. If emailing, please include a phone number.

https://ih.advfn.com/p.php?pid=nmona&article=77684862