MPG Preferred Shareholder Alert: Law Firm of Wohl & Fruchter Commences Investigation into Acquisitio
May 8th 2013 1:20PM
Updated May 8th 2013 2:15PM
MPG Preferred Shareholder Alert: Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of MPG Office Trust, Inc. by Brookfield Office Properties, Inc.
NEW YORK--(BUSINESS WIRE)-- The law firm of Wohl & Fruchter LLP is investigating the proposed acquisition of MPG Office Trust, Inc. (MPG) (NYS: MPG) by Brookfield Office Properties, Inc. (BPO). We are focusing on the impact of the acquisition on the rights of MPG preferred shareholders.
On April 25, 2013, BPO and MPG announced they had entered into an agreement under which a newly formed entity controlled by BPO, DTLA Holdings L.P. (DTLA Holdings), will acquire the common stock of MPG for $3.15 per share in cash.
The agreement also provides that DTLA Holdings will commence a tender offer to purchase all of MPG's preferred shares for $25.00 per share in cash. Alternatively, instead of tendering, MPG preferred shareholders may opt to have their MPG preferred shares converted into new preferred shares of another entity controlled by BPO, DTLA Fund Office Trust Investor Inc. (DTLA Fund), with rights, terms and conditions substantially identical to those of MPG's preferred shares.
However, if 66.6% or more of the MPG preferred shares are tendered, then DTLA Holdings will have the right to convert all remaining MPG preferred shares into cash at the price of $25.00 per preferred share without the consent of such MPG preferred shareholders.
Our investigation concerns, among other things, whether the treatment of MPG preferred shareholders in connection with the transaction is unfairly and improperly coercive.
Additional information is available at http://www.wohlfruchter.com/cases/mpg-preferred.
Persons with relevant information, and MPG preferred shareholders with questions about this investigation, are invited to contact our Firm by calling 866.582.8140, or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845.425.4658
KEYWORDS: United States North America New York
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